GBP/JPY – 30M – SELL

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 208.052972 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support line at 209.678 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Three Outside Down’ candlestick chart pattern is existing. The candles form ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

209.678 – 209.324 – 208.774 – 208.96 – 208.199 – 208.039 —
209.20700 – 208.66800 —
52.351902097743 – 35.224780504783 —
– —
209.678 – 1771245000

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