GBP/JPY – 30M – SELL

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

A continuation of the downtrend downwards to the next support level at is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 198.80000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

And also a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart signal. The currency pair could go down.

And also a ‘Three Outside Down’ candlestick chart pattern is detected. The chart shows ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

198.80000 – 198.52800 – 198.59300 – 198.10700 – 198.01100 – 197.70300

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – Double bottom retreat down