GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) goes from the descending trendline down.

A continuation of the bearish trend down to the next support level at 213.863 will continue.

Caution: A possible trend reversal in the direction of the resistance line at 214.998 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Bearish Engulfing’ candle pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

214.998 – 214.934 – 214.859 – 213.863 – 214.324 – 214.306 —
214.87000 – 214.82800 —
55.323469506107 – 53.424072193646 —
– —
214.998 – 1781249400

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