GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards

The bearish trend down to the next support line at 203.127 is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 204.52 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Northern Doji’ candle chart pattern is existing. The chart forms ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

204.52 – 203.602 – 203.946 – 203.127 – 202.34 – 202.631 —
204.21300 – 204.20000 —
51.400695591528 – 49.205602421419 —
– —
204.52000 – 1763406000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – – – –