GBP/JPY – 30M – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline down.

A bearish descent downwards to the next support level at 212.676 will continue.

Caution: A possible counter-trend in the direction of the resistance line at 214.103 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘%K crosses below %D’ indicator layout is discovered. The indicator shows ‘%K crosses below %D’. which could be a negative chart signal. The currency pair could go down.

Additionally a ‘Three Outside Down’ chart pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

213.432 – 212.757 – 212.646 – 212.676 – 211.583 – 212.114 —
214.12600 – 214.75900 —
60.698582990421 – 76.183742057882 —
– —
213.43200 – 1769074200

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