GBP/JPY – 1H – SELL

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

A bearish descent down to the next support line at 213.863 is expected.

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

Also there is a ‘MACD crosses below signal’ indicator layout is existing. The indicator shows ‘MACD crosses below signal’. which is often a bearish chart scenario. The pair is likely to go down.

Also there is a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 214.36 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 214.998 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Three Outside Down’ candle pattern is detected. The chart forms ‘Three Outside Down’. 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 chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

214.998 – 214.934 – 215.23 – 213.863 – 214.324 – 214.306 —
214.85100 – 214.99900 —
53.162857614562 – 58.398426819799 —
– —
214.998 – 1781247600

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