GBP/JPY – 1H – SELL

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

A bearish descent down to the next support at 211.572 is certain.

Caution: A possible change in the direction of the resistance zone at 213.301 is within the realm of possibility.
Consider stop-loss settings accordingly.

Furthermore a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Furthermore a ‘Shooting Star’ chart pattern is found. The candles show ‘Shooting Star’. 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 ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

213.301 – 212.737 – 212.764 – 211.572 – 211.734 – 210.791 —
212.71000 – 212.75200 —
53.699020181692 – 53.729698227584 —
– —
213.301 – 1774285200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Shooting Star – – – – – – – – –