GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards

A descending movement downwards to the next support at 203.69 will persist.

Caution: A possible trend reversal in the direction of resistance at 204.87 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Northern Doji’ candlestick pattern is existing. The candles form ‘Northern Doji’. this is a bullish pattern signal. The currency 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).

204.52 – 203.946 – 203.567 – 203.69 – 202.34 – 202.764 —
204.35100 – 204.59400 —
60.759007449529 – 63.473896924079 —
– —
204.52000 – 1763406000

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