GBP/JPY – 30M – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline downwards

A bearish movement downwards to the next support level at 210.791 is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 212.721 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

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

212.153 – 212.341 – 212.721 – 210.791 – 210.843 – 211.771 —
212.39100 – 212.68600 —
66.29671578886 – 65.626892575024 —
– —
212.153 – 1773957600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low – – – – – – – – –