GBP/JPY – 1H – SELL

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

A continuation of the bearish trend down to the next support line at 195.35600 will persist.

Caution: A possible trend reversal in the direction of resistance at 198.09900 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

198.09900 – 197.54600 – 197.55000 – 195.35600 – 196.27200 – 197.21000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji –