GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline downwards

A continuation of the downward movement downwards to the next support level at 195.35600 is considered certain.

Caution: A possible trend reversal in the direction of resistance at 198.09900 could happen.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘StochRSI fall below 80’ indicator layout is detected. The indicator shows ‘StochRSI fall below 80’. this is usually a bearish chart scenario. The pair is likely to go down.

In addition a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

198.09900 – 197.54600 – 197.55000 – 195.35600 – 196.27200 – 197.21000 — 53.538581565966 – 49.684327780256

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