GBP/JPY – 30M – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards

The bearish trend down to the next support level at 211.78 will persist.

Caution: A possible reversal of the trend in the direction of the resistance line at 212.857 could occur.
Consider stop-loss settings accordingly.

Also there is a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

212.857 – 212.822 – 212.465 – 211.78 – 211.279 – 211.489 —
212.98200 – 213.40200 —
55.667776771052 – 65.436118462871 —
– —
212.857 – 1770087600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing – Double top chart pattern – – – – – – – –