GBP/JPY – 30M – BUY

The pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline downwards

A continuation of the downward movement downwards to the next support line at 190.62100 is certain.

Caution: A possible counter-trend in the direction of resistance at 191.33900 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Northern Doji’ candlestick chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. 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).

Then a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.

190.97100 – 191.33900 – 191.18100 – 190.62100 – 190.39200 – 190.52500

Download GBP/JPY Signal Image

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