GBP/JPY – 1H – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline down.

A continuation of the downtrend down to the next support level at 211.973 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 212.867 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair is likely to fall.

Additionally a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency 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%.

212.867 – 213.299 – 212.177 – 211.973 – 211.589 – 209.176 —
212.76300 – 212.81200 —
53.111980427813 – 51.118074989062 —
– —
212.867 – 1773349200

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