GBP/JPY – 30M – SELL

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

A bearish movement down to the next support level at 193.47200 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 196.01100 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 193.472 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 196.01100 could happen.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.

Download GBP/JPY Signal Image

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