GBP/JPY – 30M – SELL

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

The bearish trend downwards to the next support at 209.606 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 214.847 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘StochRSI %K line crosses above %D line’ indicator signal is detected. The indicator shows ‘StochRSI %K line crosses above %D line’. which is often a bullish chart signal. The currency pair could go up.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 209.606 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support zone at 214.847 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Three Inside Down’ candle pattern is discovered. 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’ heading down is 60% (Bull Market) & 63% (Bear Market).

214.847 – 213.432 – 212.757 – 209.606 – 212.676 – 211.583 —
211.58900 – 210.99200 —
61.085576235051 – 42.177495611938 —
– —
214.84700 – 1769160600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Inside Down – Symmetrical Triangle Chart Pattern – – – – – – – –