GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline down.

A descent downwards to the next support line at 214.883 is expected.

Caution: A possible change in the direction of the resistance zone at 215.899 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart scenario. The pair is likely to go down.

Additionally a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

215.768 – 215.726 – 215.655 – 214.883 – 215.064 – 214.915 —
215.73500 – 215.85000 —
59.747634960183 – 62.387903414252 —
– —
215.768 – 1777071600

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