GBP/JPY – 4H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline downwards

A continuation of the bearish trend downwards to the next support line at 213.863 is considered certain.

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

Besides a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Besides a ‘Matching Low’ candlestick chart pattern is existing. The candles show ‘Matching Low’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).

215.23 – 215.606 – 215.518 – 213.863 – 212.924 – 213.32 —
215.14200 – 215.39700 —
51.940840965757 – 55.761701891989 —
– —
215.23 – 1781107200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low – – – – – – – – –