GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A bearish movement downwards to the next support level at 211.973 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 212.883 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Last Engulfing Top’ candle pattern is existing. The chart shows ‘Last Engulfing Top’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 214.433 |
| 2nd High | 213.719 |
| Next High | 212.883 |
| Current Price | 212.51700 |
| Next Low | 211.973 |
| 2nd Low | 211.589 |
| 3rd Low | 210.601 |
212.883 – 212.409 – 212.177 – 211.973 – 211.589 – 210.601 —
212.87600 – 212.68600 —
64.23530401028 – 55.783561028752 —
– —
212.883 – 1773212400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Last Engulfing Top – Rising Wedge Chart Pattern – – – – – – – –