GBP/JPY – 30M – SELL

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

A continuation of the bearish trend down to the next support level at 188.02300 is expected.

Caution: A possible trend reversal in the direction of the resistance level at 188.84300 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair is likely to fall.

Furthermore a ‘Bearish Engulfing’ candle pattern is found. The chart shows ‘Bearish Engulfing’. 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 likelyhood of ‘Bearish Engulfing’ heading down is 79%.

Furthermore a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.

188.84300 – 189.02600 – 189.06800 – 188.02300 – 187.99600 – 188.73400

Download GBP/JPY Signal Image

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