GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline downwards

A continuation of the downward movement downwards to the next support line at 211.938 will continue.

Caution: A possible reversal of the trend in the direction of resistance at 213.104 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Outside Down’ candlestick chart pattern is detected. The candles show ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

213.104 – 213.617 – 213.649 – 211.938 – 212.546 – 211.771 —
212.75700 – 212.72400 —
47.855949598594 – 48.955646968077 —
– —
213.104 – 1777915800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – Symmetrical Triangle Chart Pattern – – – – – – – –