GBP/JPY – 4H – SELL

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

A descent downwards to the next support line at 187.46000 is expected.

Caution: A possible change in the direction of the resistance line at 189.82100 is within the realm of possibility.
Consider stop-loss settings accordingly.

Also there is a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The currency pair is likely to fall.

Also there is a ‘Three Inside Down’ candlestick pattern is existing. The candles show ‘Three Inside Down’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

Also there is a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The currency pair could go down.

189.65200 – 189.82100 – 195.76700 – 187.46000 – 187.45700 – 184.37000

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Inside Down