GBP/JPY – 1H – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline down.

A bearish descent downwards to the next support line at 203.69 will continue.

Caution: A possible change in the direction of the resistance zone at 204.52 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The pair is likely to go up.

Furthermore a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which is often a bullish chart signal. The currency pair is likely to rise.

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

204.52 – 203.946 – 203.567 – 203.69 – 202.34 – 202.764 —
204.15100 – 204.26700 —
54.667038949066 – 52.229191565888 —
– —
204.52000 – 1763406000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – – – –