GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) jumps from the bearish trendline downwards

A continuation of the downward movement down to the next support at 190.62100 will continue.

Caution: A possible reversal of the trend in the direction of the resistance zone at 191.33900 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Outside Down’ chart pattern is found. The candles show ‘Three Outside Down’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Also there is a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

190.97100 – 191.33900 – 191.18100 – 190.62100 – 190.39200 – 190.52500

Download GBP/JPY Signal Image

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