GBP/JPY – 4H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline down.

A continuation of the bearish trend downwards to the next support at will continue.

Caution: A possible trend reversal in the direction of the resistance line at 214.847 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 209.606 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the support level at 214.847 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Matching Low’ candle pattern is discovered. The candles form ‘Matching Low’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

214.847 – 213.487 – 214.285 – 209.606 – 211.583 – 210.648 —
211.07000 – 211.21500 —
38.077460426102 – 44.327030029838 —
– —
214.84700 – 1769155200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low – Inverse Head and Shoulder chart pattern – – – – – – – –