GBP/JPY – 30M – SELL

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

A continuation of the bearish trend down to the next support line at 210.502 is expected.

Caution: A possible trend reversal in the direction of resistance at 211.738 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The pair is likely to go down.

Then a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 210.889984 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 211.738 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Northern Doji’ candle pattern is discovered. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

211.738 – 212.075 – 212.146 – 211.278 – 211.306 – 210.502 —
211.71800 – 211.40400 —
56.6853449095 – 33.608306610365 —
– —
211.73800 – 1767729600

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