GBP/JPY – 30M – SELL

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

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

Caution: A possible trend reversal in the direction of the resistance zone at 197.55000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 196.855392 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 197.55000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

197.55000 – 197.74800 – 198.00400 – 196.94200 – 196.27200 – 197.18400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – – Head and Shoulder chart pattern