GBP/JPY – 30M – SELL

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

A continuation of the downward movement downwards to the next support level at is likely expected.

Caution: A possible counter-trend in the direction of the resistance level at 197.55000 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The pair is likely to go down.

197.55000 – 197.74800 – 198.00400 – 196.94200 – 196.27200 – 197.18400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – – Double bottom chart pattern