GBP/JPY – 4H – SELL

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

A descending movement downwards to the next support level at is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 214.43300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

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

Next a ‘StochRSI Bearish Divergence’ indicator signal is found. The indicator shows ‘StochRSI Bearish Divergence’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 210.878748 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 214.43300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.

214.43300 – 214.999 – 214.847 – 211.597 – 210.038 – 209.606 —
214.43300 – 213.25600 —
49.265635236868 – 43.065669981279 —
214.43300 – 1770595200 —
– 1770595200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Double top retreat up – – – – – – – –