GBP/JPY – 1H – SELL

Then a ‘Double top chart pattern’ chart pattern is detected. The chart shows ‘Double top chart pattern’. this is a bearish chart scenario. The currency pair is likely to go down.

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

The bearish trend down to the next support line at will persist.

Caution: A possible counter-trend in the direction of resistance at 207.194 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.

Then a ‘%K crosses above %D’ indicator layout is discovered. The indicator shows ‘%K crosses above %D’. which could be a positive chart scenario. The currency pair is likely to rise.

Then a ‘Northern Doji’ candlestick chart pattern is existing. The chart forms ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

207.194 – 207.163 – 205.985 – 206.423 – 204.995 – 204.284 —
207.10300 – 206.59700 —
54.404236012383 – 36.11688071727 —
– —
207.19400 – 1764295200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double top chart pattern – – – – – – – –