GBP/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support at 213.863 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 214.998 could occur.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 214.36 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 214.998 could occur.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Falling Window’ candlestick chart pattern is discovered. The candles show ‘Falling Window’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).

214.998 – 214.934 – 215.23 – 213.863 – 214.324 – 214.306 —
214.78300 – 214.98400 —
47.787670578754 – 53.188981930171 —
– —
214.998 – 1781247600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Falling Window – – – – – – – – –