GBP/JPY – 30M – SELL

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

A descent downwards to the next support level at 212.36 is considered certain.

Caution: A possible change in the direction of the resistance zone at 213.719 could happen.
Consider stop-loss settings accordingly.

There is also a ‘Three Inside Down’ chart pattern is found. The candles show ‘Three Inside Down’. 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 chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

212.883 – 212.409 – 212.177 – 212.36 – 211.973 – 211.589 —
212.92400 – 213.29900 —
56.854598109969 – 64.983664816296 —
– —
212.883 – 1773212400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Inside Down – – – – – – – – –