GBP/JPY – 30M – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline downwards

A continuation of the downward movement downwards to the next support at 211.991 is certain.

Caution: A possible counter-trend in the direction of the resistance level at 213.305 could occur.
Consider stop-loss settings accordingly.

Moreover a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. which could be a negative signal. The currency pair is likely to fall.

Moreover a ‘Three Outside Down’ candlestick pattern is discovered. The candles form ‘Three Outside Down’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

213.305 – 213.087 – 214.103 – 211.991 – 212.57 – 212.542 —
212.21000 – 212.20400 —
36.635617270897 – 44.431956691537 —
– —
213.30500 – 1768473000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – Rising Wedge Chart Pattern – – – – – – – –