GBP/JPY – 30M – SELL

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

A continuation of the downtrend downwards to the next support line at 209.777 will continue.

Caution: A possible counter-trend in the direction of the resistance zone at 211.199 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which could be a negative signal. The currency pair could go down.

Additionally a ‘Bearish Belt Hold’ chart pattern is detected. The candles form ‘Bearish Belt Hold’. 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 probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).

211.199 – 211.209 – 212.106 – 210.402 – 210.19 – 212.223 —
211.05100 – 210.41800 —
52.710763862503 – 44.058482613662 —
– —
211.199 – 1774969200

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