GBP/JPY – 30M – SELL

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

A bearish trend down to the next support line at 206.488 will continue.

Caution: A possible reversal of the trend in the direction of resistance at 207.163 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘%K crosses below %D’ indicator signal is discovered. The indicator is ‘%K crosses below %D’. which could be a negative chart scenario. The currency pair could go down.

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

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend will continue. Target of the current trend is 206.763462 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of support at 207.163 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Collapsing Doji Star’ candlestick pattern is found. The candles show ‘Collapsing Doji Star’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Collapsing Doji Star’ going down is 63% (Bull Market).

207.163 – 205.985 – 205.605 – 206.488 – 206.423 – 205.504 —
206.81400 – 207.14200 —
52.792239283506 – 64.967403526404 —
– —
207.16300 – 1764199800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Collapsing Doji Star – Symmetrical Triangle Chart Pattern – – – – – – – –