GBP/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support at 212.267 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 213.115 is within the realm of possibility.
Consider stop-loss settings accordingly.

Besides a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

213.115 – 214.218 – 214.065 – 212.267 – 210.758 – 211.938 —
212.96200 – 212.73800 —
49.385144099209 – 48.174837935949 —
– —
213.115 – 1778158800

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