GBP/JPY – 30M – SELL

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

A continuation of the downward movement down to the next support at 211.572 will continue.

Caution: A possible trend reversal in the direction of the resistance level at 212.999 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ‘StochRSI %K line crosses below %D line’ indicator signal is discovered. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair could go down.

Next a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

212.999 – 213.092 – 213.303 – 212.223 – 212.585 – 212.696 —
211.93900 – 212.05100 —
25.784747624537 – 39.111553160155 —
– —
212.999 – 1774638000

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