GBP/JPY – 1H – SELL

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

A continuation of the downtrend downwards to the next support at 195.35600 will continue.

Caution: A possible change in the direction of resistance at 198.09900 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘%K crosses below %D’ indicator layout is discovered. The indicator is ‘%K crosses below %D’. this is usually a bearish signal. The currency pair could go down.

Besides a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

198.09900 – 197.54600 – 197.55000 – 195.35600 – 196.27200 – 197.21000 — 53.538581565966 – 49.684327780256 — 86.236178453785 – 89.555720602974 – 77.491859612788 – 84.667870397413

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