GBP/JPY – 4H – SELL

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

A bearish trend downwards to the next support line at 188.24100 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 192.14700 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 189.341228 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 192.14700 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bearish Harami’ chart pattern is existing. The chart shows ‘Bearish Harami’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).

Download GBP/JPY Signal Image

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