GBP/JPY – 1H – SELL

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

A bearish movement downwards to the next support at 214.883 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 216.047 could happen.
Consider stop-loss settings accordingly.

Furthermore a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. this is usually a bearish signal. The pair is likely to go down.

Furthermore a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair could go down.

Furthermore a ‘Three Inside Down’ candle chart pattern is found. The candles form ‘Three Inside Down’. this 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 ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).

216.047 – 215.768 – 215.726 – 214.883 – 215.064 – 214.915 —
215.86400 – 215.81700 —
56.687380927322 – 56.27900452838 —
– —
216.047 – 1777302000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Inside Down – – – – – – – – –