GBP/JPY – 30M – SELL

In addition a ‘Rising Wedge Chart Pattern’ chart pattern is discovered. The chart picture shows ‘Rising Wedge Chart Pattern’. this is a bearish pattern signal. The pair is likely to go down.

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

A descent downwards to the next support at is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 198.80000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart scenario. The currency pair is likely to fall.

In addition a ‘Matching Low’ candle pattern is existing. The chart forms ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

198.80000 – 198.52800 – 198.59300 – 198.01100 – 197.70300 – 197.03800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low – Rising Wedge Chart Pattern