GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) goes from the descending trendline down.
A continuation of the downtrend down to the next support line at 210.502 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 212.146 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart signal. The currency pair is likely to fall.
Furthermore a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.
Furthermore a ‘Northern Doji’ candle chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 212.146 |
| Current Price | 211.13000 |
| Next Low | 210.502 |
| 2nd Low | 210.251 |
| 3rd Low | 210.038 |
212.146 – 211.437 – 211.093 – 210.502 – 210.251 – 210.42 —
211.47700 – 211.40400 —
44.769080276551 – 38.455794418306 —
– —
212.14600 – 1767664800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom retreat down – – – – – – – –