GBP/JPY – 30M – SELL

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

A continuation of the bearish trend downwards to the next support line at 204.284 is certain.

Caution: A possible trend reversal in the direction of the resistance zone at 205.706 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘%K crosses below %D’ indicator signal is discovered. The indicator shows ‘%K crosses below %D’. which is often a bearish chart scenario. The currency pair could go down.

And also a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. which is often a bearish chart scenario. The currency pair could go down.

And also a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. this is usually a bearish chart signal. The pair is likely to go down.

And also a ‘Collapsing Doji Star’ candle pattern is found. The candles form ‘Collapsing Doji Star’. 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 ‘Collapsing Doji Star’ heading down is 63% (Bull Market).

205.706 – 205.32 – 206.042 – 204.284 – 204.372 – 205.575 —
205.43500 – 205.55400 —
45.005877525014 – 54.009322433545 —
– —
205.70600 – 1764034200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Collapsing Doji Star – Rising Wedge Chart Pattern – – – – – – – –