GBP/JPY – 4H – SELL

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

A descending movement down to the next support at is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 214.847 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart scenario. The currency pair could go down.

Furthermore a ‘StochRSI %K line crosses below %D line’ indicator signal is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The currency pair could go down.

Furthermore a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

214.847 – 213.487 – 214.285 – 209.606 – 211.583 – 210.648 —
211.16400 – 212.15700 —
40.375961253469 – 51.533631093979 —
– —
214.84700 – 1769155200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –