GBP/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support level at 207.227 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 209.207 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘StochRSI %K line crosses below %D line’ indicator signal is discovered. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair is likely to fall.

There is also a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.

There is also a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

209.207 – 209.476 – 209.678 – 207.227 – 208.039 – 207.551 —
208.91200 – 209.47500 —
54.106198823801 – 63.850118625177 —
– —
209.207 – 1771434000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing – Double bottom retreat down – – – – – – – –