GBP/JPY – 30M – SELL

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

A bearish descent down to the next support line at 207.612 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 209.207 is also possible.
Consider stop-loss settings accordingly.

In addition a ‘Three Inside Down’ candlestick chart pattern is discovered. The candles form ‘Three Inside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

209.207 – 208.307 – 208.003 – 207.612 – 207.227 – 207.341 —
208.86700 – 209.44000 —
51.080662275965 – 65.362464513065 —
– —
209.207 – 1771435800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Inside Down – – – – – – – – –