GBP/JPY – 1H – SELL

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

A bearish descent down to the next support line at 203.69 is certain.

Caution: A possible change in the direction of resistance at 204.52 could happen.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘Three Outside Down’ candlestick pattern is found. The candles form ‘Three Outside Down’. 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 chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

204.52 – 203.946 – 203.567 – 203.69 – 202.34 – 202.764 —
204.40500 – 204.54500 —
59.501497679854 – 58.069084672811 —
– —
204.52000 – 1763406000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – Rising Wedge Chart Pattern – – – –