GBP/JPY – 30M – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline down.

A continuation of the downward movement downwards to the next support at 204.578 is expected.

Caution: A possible change in the direction of the resistance level at 206.042 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart scenario. The currency pair is likely to fall.

There is also a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 204.653972 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 206.042 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

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

206.042 – 206.852 – 206.044 – 205.575 – 205.637 – 204.578 —
205.95700 – 205.61500 —
49.587759925804 – 45.115017901106 —
– —
206.04200 – 1763697600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Inside Down – Double top chart pattern – – – –