GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support level at 189.97500 is certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 191.25400 should be noted.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 190.296904 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 191.25400 should be noted.
Consider stop-loss settings accordingly.

And also a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative chart signal. The pair is likely to go down.

And also a ‘Two Crows’ candlestick pattern is found. The chart forms ‘Two Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

And also a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.

191.25400 – 190.97100 – 191.33900 – 189.97500 – 190.62100 – 190.39200

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Two Crows