GBP/JPY – 1H – SELL

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

A bearish movement downwards to the next support line at 214.883 is expected.

Caution: A possible trend reversal in the direction of resistance at 215.768 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The currency pair could go down.

Besides a ‘MACD crosses below signal’ indicator layout is existing. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The currency pair could go down.

Besides a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.

Besides a ‘Last Engulfing Bottom:’ chart pattern is detected. The candles show ‘Last Engulfing Bottom:’. which 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 ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

215.768 – 215.726 – 215.655 – 214.883 – 215.064 – 214.915 —
215.52900 – 215.65700 —
54.48517451362 – 57.25005727668 —
– —
215.768 – 1777071600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Last Engulfing Bottom: – Symmetrical Triangle Chart Pattern – – – – – – – –