GBP/JPY – 30M – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support line at 212.15600 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 213.719 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 212.115 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 213.719 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three Outside Down’ candle pattern is detected. The candles show ‘Three Outside Down’. 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 ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

213.719 – 213.709 – 214.433 – 212.15600 – 212.115 – 212.552 —
212.44300 – 212.78100 —
28.076288006408 – 43.399155528742 —
212.15600 – 1770706800 —
213.719 – 1770690600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – – – – – – – – –