GBP/JPY – 1H – SELL

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

A continuation of the bearish trend downwards to the next support at 195.35600 is expected.

Caution: A possible counter-trend in the direction of resistance at 198.09900 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘StochRSI fall below 80’ indicator signal is detected. The indicator shows ‘StochRSI fall below 80’. which is often a bearish signal. The currency pair is likely to fall.

Next a ‘Northern Doji’ candle pattern is existing. The candles show ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

198.09900 – 197.54600 – 197.55000 – 195.35600 – 196.27200 – 197.21000 — 53.538581565966 – 49.684327780256 — 100 – 76.48

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