GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support line at 208.039 is certain.

Caution: A possible counter-trend in the direction of the resistance level at 209.678 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart scenario. The currency pair could go down.

Additionally a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The currency pair could go down.

Additionally a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The pair is likely to go down.

Additionally a ‘Collapsing Doji Star’ candlestick pattern is detected. The chart shows ‘Collapsing Doji Star’. 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 likelyhood of ‘Collapsing Doji Star’ going down is 63% (Bull Market).

209.678 – 209.324 – 209.544 – 208.039 – 207.551 – 207.628 —
209.20900 – 209.20700 —
56.279239540655 – 55.494015332285 —
– —
209.678 – 1771243200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Collapsing Doji Star – Symmetrical Triangle Chart Pattern – – – – – – – –