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 line at 214.795 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 215.407 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative signal. The currency pair could go down.

Then a ‘MACD crosses below signal’ indicator layout is found. The indicator shows ‘MACD crosses below signal’. which could be a negative signal. The currency pair could go down.

Then a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a negative chart signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 214.935304 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of support at 215.407 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Three Outside Down’ candle pattern is detected. The candles show ‘Three Outside Down’. which is a bearish signal. 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’ going down is 69% (Bull Market) & 70% (Bear Market).

215.407 – 216.064 – 215.934 – 214.795 – 214.628 – 214.648 —
215.40400 – 215.44700 —
58.841971693275 – 59.097969684518 —
– —
215.407 – 1783015200

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