GBP/JPY – 30M – SELL

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

A descent down to the next support at 212.36 will continue.

Caution: A possible trend reversal in the direction of the resistance level at 212.883 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

212.883 – 212.409 – 212.177 – 212.36 – 211.973 – 211.589 —
212.87800 – 212.97700 —
62.892583443217 – 62.232629344657 —
– —
212.883 – 1773212400

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