GBP/JPY – 1H – SELL

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

A continuation of the bearish trend downwards to the next support at 213.863 is expected.

Caution: A possible change in the direction of the resistance line at 214.998 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

214.998 – 214.934 – 215.23 – 213.863 – 214.324 – 214.306 —
214.83600 – 215.01900 —
52.217533761639 – 57.939691558089 —
– —
214.998 – 1781247600

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