GBP/JPY – 30M – SELL

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

A bearish movement downwards to the next support line at 210.314 is certain.

Caution: A possible trend reversal in the direction of resistance at 211.535 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Bearish Belt Hold’ candle chart pattern is detected. The candles form ‘Bearish Belt Hold’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).

211.535 – 211.38 – 211.305 – 210.314 – 210.334 – 209.704 —
211.39900 – 211.39500 —
60.666992607091 – 57.164356760825 —
– —
211.535 – 1775496600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Belt Hold – – – – – – – – –