GBP/JPY – 4H – SELL

Furthermore a ‘Double bottom retreat down’ chart layout is found. The chart picture shows ‘Double bottom retreat down’. this is a bearish pattern signal. The currency pair is likely to fall.

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

A continuation of the bearish trend downwards to the next support line at 205.19 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 207.194 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘%K crosses below %D’ indicator layout is detected. The indicator shows ‘%K crosses below %D’. which is often a bearish signal. The currency pair is likely to fall.

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’ heading up is 52% (Bull Market) & 51% (Bear Market).

207.194 – 206.852 – 204.063 – 205.19 – 204.284 – 202.34 —
206.11000 – 207.07700 —
50.057375476494 – 65.302128309911 —
– —
207.19400 – 1764288000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom retreat down – – – – – – – –