GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards

A descending movement downwards to the next support line at 195.39800 will persist.

Caution: A possible trend reversal in the direction of resistance at 196.84100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Three Inside Down’ chart pattern is discovered. The candles form ‘Three Inside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).

196.84100 – 196.16700 – 196.05800 – 195.39800 – 194.97500 – 193.75600

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