GBP/JPY – 30M – SELL

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 193.78 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 196.41700 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. 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 probability of ‘Bearish Engulfing’ heading down is 79%.

Download GBP/JPY Signal Image

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