GBP/JPY – 1H – SELL

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

A bearish movement down to the next support level at 210.502 is certain.

Caution: A possible counter-trend in the direction of the resistance zone at 212.14600 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Northern Doji’ candle pattern is discovered. The chart shows ‘Northern Doji’. this 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’ going up is 52% (Bull Market) & 51% (Bear Market).

212.14600 – 211.437 – 211.093 – 210.502 – 210.251 – 210.42 —
212.14600 – 212.00800 —
67.182439378456 – 60.384379801497 —
212.14600 – 1767664800 —
– 1767664800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom retreat down – – – – – – – –