GBP/JPY – 1H – SELL

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

A continuation of the downward movement down to the next support at 209.176 will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 210.559 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

There is also 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 is likely to fall.

There is also a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a bearish 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 ‘Bearish Engulfing’ going down is 79%.

210.559 – 210.724 – 211.376 – 209.176 – 209.481 – 209.213 —
210.56300 – 210.46300 —
62.237862374868 – 58.052441561493 —
– —
210.559 – 1772629200

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