GBP/JPY – 30M – SELL

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

A bearish movement downwards to the next support at 208.199 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 210.511 is also possible.
Consider stop-loss settings accordingly.

Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The currency pair is likely to fall.

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

Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 209.073652 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 210.511 is also possible.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. 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 success rate of a ‘Three Black Crows’ going down is 82%.

209.324 – 208.774 – 209.544 – 208.199 – 208.039 – 207.551 —
209.18800 – 209.67800 —
65.050910334911 – 73.613668792997 —
– —
209.324 – 1770978600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – – – – – – – – –