GBP/JPY – 1H – SELL

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

A continuation of the downward movement downwards to the next support line at 213.32 will continue.

Caution: A possible reversal of the trend in the direction of the resistance level at 214.63 could be enabled.
Consider stop-loss settings accordingly.

Next a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative signal. The currency pair is likely to fall.

Next a ‘Collapsing Doji Star’ candlestick chart pattern is existing. The candles show ‘Collapsing Doji Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ heading down is 63% (Bull Market).

214.63 – 214.212 – 214.474 – 213.32 – 214.07 – 213.444 —
214.40500 – 214.56400 —
60.750911001646 – 64.219474583848 —
– —
214.63 – 1780077600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Collapsing Doji Star – – – – – – – – –