GBP/JPY – 30M – SELL

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline downwards

A descent downwards to the next support line at 215.18900 is expected.

Caution: A possible change in the direction of the resistance zone at 215.77 could happen.
Consider stop-loss settings accordingly.

Moreover a ‘MACD crosses below signal’ indicator signal is found. The indicator is ‘MACD crosses below signal’. this is usually a bearish signal. The currency pair is likely to fall.

Moreover a ‘Three Outside Down’ candle chart pattern is found. The candles show ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

215.77 – 215.027 – 213.81 – 215.18900 – 214.202 – 214.453 —
215.45100 – 215.65300 —
40.785693908996 – 58.084898638548 —
215.18900 – 1782900000 —
215.77 – 1782842400

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