GBP/JPY – 30M – SELL

Besides a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 211.49844 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support zone at 214.218 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Outside Down’ candle pattern is detected. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

214.218 – 214.065 – 212.768 – 210.758 – 213.63 – 212.549 —
212.46700 – 212.64900 —
29.388226030728 – 42.790775067879 —
– —
214.218 – 1778047200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – – – – – – – – –