GBP/JPY – 30M – SELL

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

A descent down to the next support line at 211.572 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 212.737 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.

Besides a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.

212.737 – 212.601 – 212.764 – 211.572 – 211.734 – 211.748 —
212.69700 – 212.70800 —
56.598922548288 – 52.939455123974 —
– —
212.737 – 1774240200

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