GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A descent downwards to the next support line at 211.52 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 213.006 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 212.42606 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of support at 213.006 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 213.006 |
| Current Price | 212.97000 |
| Next Low | 211.52 |
| 2nd Low | 210.539 |
| 3rd Low | 210.296 |
213.006 – 211.598 – 211.043 – 211.52 – 210.539 – 210.296 —
212.99000 – 212.99200 —
64.4897115773 – 68.28182383937 —
– —
213.00600 – 1768242600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – – – – – – – –