GBP/JPY – 30M – SELL

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The currency pair could go up.

In addition a ‘StochRSI %K line crosses above %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart scenario. The currency pair could go up.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 211.95 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 213.299 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Last Engulfing Bottom:’ candle chart pattern is existing. The chart shows ‘Last Engulfing Bottom:’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).

213.299 – 212.883 – 212.409 – 212.36 – 211.973 – 211.589 —
213.09600 – 212.80700 —
50.84492629002 – 40.040272858136 —
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213.299 – 1773268200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Last Engulfing Bottom: – – – – – – – – –