GBP/JPY – 30M – SELL

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

A continuation of the bearish trend down to the next support level at 210.539 will continue.

Caution: A possible counter-trend in the direction of the resistance level at 212.067 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair could go down.

And also a ‘Matching Low’ candle chart pattern is found. The chart shows ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).

212.067 – 212.291 – 213.305 – 211.379 – 211.478 – 211.991 —
211.69800 – 211.51600 —
44.865213250524 – 33.821744865057 —
– —
212.06700 – 1768566600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low – Double top chart pattern – – – – – – – –