GBP/JPY – 1H – SELL

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

A bearish trend down to the next support level at 214.302 will persist.

Caution: A possible trend reversal in the direction of the resistance line at 215.23 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

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

Additionally a ‘Three Outside Down’ candle pattern is discovered. The candles show ‘Three Outside Down’. this 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 ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

214.998 – 214.934 – 215.23 – 214.302 – 213.863 – 214.324 —
215.14900 – 215.36800 —
60.516724916642 – 63.722456279612 —
– —
214.998 – 1781247600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – Rising Wedge Chart Pattern – – – – – – – –