GBP/JPY – 1H – SELL

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

A descending movement down to the next support line at is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 212.112 could happen.
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 signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 210.094 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 212.112 could happen.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Matching Low’ candlestick chart pattern is found. The chart shows ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

212.112 – 210.833 – 209.219 – 209.995 – 208.129 – 208.215 —
211.62000 – 211.54700 —
50.313185553575 – 46.763358357287 —
– —
212.112 – 1772053200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low – – – – – – – – –