GBP/JPY – 30M – SELL

The pair British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline downwards

A continuation of the downward movement down to the next support at 215.064 is expected.

Caution: A possible change in the direction of the resistance zone at 215.726 should always be considered.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 214.859624 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support zone at 215.726 should always be considered.
Consider stop-loss settings accordingly.

And also a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

215.726 – 215.533 – 215.655 – 215.064 – 214.915 – 215.014 —
215.31600 – 215.14100 —
40.027066303724 – 41.466056736508 —
– —
215.726 – 1776947400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing – – – – – – – – –