GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) jumps from the bearish trendline down.

A continuation of the bearish trend down to the next support at 208.972 will continue.

Caution: A possible change in the direction of the resistance line at 210.51100 is within the realm of possibility.
Consider stop-loss settings accordingly.

Furthermore a ‘StochRSI %K line crosses above %D line’ indicator signal is existing. The indicator shows ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart signal. The currency pair is likely to rise.

Furthermore a ‘Bearish Engulfing’ candle pattern is detected. The candles form ‘Bearish Engulfing’. 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 ‘Bearish Engulfing’ heading down is 79%.

210.51100 – 212.781 – 213.719 – 208.972 – 212.156 – 212.115 —
210.51100 – 208.87400 —
44.799500635646 – 27.943729398789 —
210.51100 – 1770823800 —
– 1770823800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing – – – – – – – – –