GBP/JPY – 1H – SELL

Then a ‘Rising Wedge Chart Pattern’ chart formation is existing. The formation shows ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to go down.

The pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline downwards

A bearish movement downwards to the next support at 213.673 is considered certain.

Caution: A possible trend reversal in the direction of the resistance level at 214.999 could occur.
Consider stop-loss settings accordingly.

Then a ‘StochRSI %K line crosses below %D line’ indicator signal is found. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish signal. The pair is likely to go down.

Then a ‘Bearish Belt Hold’ candle pattern is detected. The chart forms ‘Bearish Belt Hold’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).

214.999 – 212.822 – 212.157 – 213.673 – 211.279 – 211.489 —
214.03800 – 214.22500 —
45.220637933177 – 50.047288543494 —
– —
214.999 – 1770213600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Belt Hold – Rising Wedge Chart Pattern – – – – – – – –