GBP/JPY – 30M – SELL

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

A continuation of the downtrend down to the next support line at is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 195.51700 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The currency pair could go down.

Next a ‘Three Inside Down’ candle chart pattern is found. The candles form ‘Three Inside Down’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).

195.51700 – 196.23600 – 195.91800 – 194.70800 – 195.28900 – 194.77100

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