GBP/JPY – 1H – SELL

And also a ‘Rising Wedge Chart Pattern’ chart formation is discovered. The formation shows ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The pair is likely to go down.

The currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline downwards

A descent down to the next support at 211.973 is expected.

Caution: A possible counter-trend in the direction of the resistance level at 213.299 could occur.
Consider stop-loss settings accordingly.

And also a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart scenario. The pair is likely to go down.

And also a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

213.299 – 212.177 – 211.54 – 211.973 – 211.589 – 209.176 —
213.00400 – 212.74000 —
54.620581883024 – 46.658573775988 —
– —
213.299 – 1773266400

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