GBP/JPY – 30M – SELL

Besides a ‘Rising Wedge Chart Pattern’ chart pattern is existing. The formation shows ‘Rising Wedge Chart Pattern’. which is a bearish signal. The pair is likely to go down.

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

A descending movement down to the next support at will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 198.80000 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The pair is likely to go down.

Besides a ‘Matching Low’ candlestick pattern is existing. The chart shows ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to go up. 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