GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline down.
A descending movement downwards to the next support line at is expected.
Caution: A possible counter-trend in the direction of the resistance level at 211.75 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart scenario. The currency pair could go down.
Furthermore a ‘Northern Doji’ candle pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 212.146 |
| Next High | 211.75 |
| Current Price | 211.13300 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
211.75 – 212.146 – 211.437 – 210.502 – 210.251 – 210.42 —
211.30600 – 211.24100 —
35.283128934258 – 42.611409005758 —
– —
211.75000 – 1767758400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Head and Shoulder chart pattern – – – – – – – –