GBP/JPY – 30M – SELL

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

A continuation of the downtrend downwards to the next support at 211.088 will persist.

Caution: A possible counter-trend in the direction of the resistance level at 212.866 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this 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 success rate of a ‘Bearish Engulfing’ going down is 79%.

212.866 – 212.867 – 213.299 – 211.088 – 212.393 – 212.402 —
211.29700 – 211.30300 —
35.228347293747 – 45.13127760828 —
– —
212.866 – 1773387000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing – – – – – – – – –