GBP/JPY – 1H – SELL

In addition a ‘Rising Wedge Chart Pattern’ chart layout is discovered. The chart forms ‘Rising Wedge Chart Pattern’. which is a negative signal. The currency pair is likely to go down.

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

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

Caution: A possible change in the direction of resistance at 212.721 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair is likely to fall.

In addition a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative signal. The currency pair is likely to fall.

In addition a ‘Last Engulfing Bottom:’ candlestick pattern is detected. The candles form ‘Last Engulfing Bottom:’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).

212.721 – 212.482 – 211.579 – 211.946 – 211.628 – 210.8 —
212.65900 – 212.34100 —
48.602373876794 – 46.677394034189 —
– —
212.721 – 1773864000

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