GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.

A bearish trend down to the next support level at 197.03800 is certain.

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

Also there is a ‘Three Inside Down’ candle pattern is detected. The candles form ‘Three Inside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

198.19500 – 196.84100 – 196.23600 – 197.03800 – 196.94100 – 196.15200

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