GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.

A bearish descent downwards to the next support line at 204.578 will continue.

Caution: A possible reversal of the trend in the direction of resistance at 206.044 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.

Next a ‘Southern Doji’ candlestick pattern is existing. The chart forms ‘Southern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).

206.044 – 205.364 – 204.737 – 204.578 – 203.975 – 203.883 —
206.01600 – 206.48100 —
63.869480068363 – 56.978977599649 —
– —
206.04400 – 1763627400

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