GBP/JPY – 30M – SELL

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

A descent downwards to the next support line at 210.791 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 212.764 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bearish signal. The currency pair could go down.

Additionally a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which could be a negative 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. Current target is 211.7775 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 212.764 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Three Outside Down’ candlestick chart pattern is found. The candles show ‘Three Outside 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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

212.764 – 212.153 – 212.341 – 210.791 – 210.843 – 211.771 —
212.56500 – 212.43100 —
54.924087041274 – 50.780266808157 —
– —
212.764 – 1774006200

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