GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline downwards

A continuation of the bearish trend down to the next support line at 212.115 will continue.

Caution: A possible reversal of the trend in the direction of the resistance level at 213.709 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative chart scenario. The currency pair could go down.

Moreover a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 212.15692 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 213.709 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Black Crows’ candle pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.

213.709 – 214.433 – 214.999 – 212.115 – 211.597 – 213.673 —
213.45700 – 213.43100 —
53.173443684866 – 46.83584721555 —
– —
213.709 – 1770645600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Double bottom retreat down – – – – – – – –