GBP/JPY – 30M – BUY

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 at 189.97500 will continue.

Caution: A possible trend reversal in the direction of the resistance level at 191.25400 could be enabled.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 190.296904 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 191.25400 could be enabled.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish chart signal. The currency pair is likely to fall.

Besides a ‘On Neck’ candlestick chart pattern is discovered. The candles show ‘On Neck’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).

Besides a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair is likely to fall.

191.25400 – 190.97100 – 191.33900 – 189.97500 – 190.62100 – 190.39200

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – On Neck