GBP/JPY – 30M – BUYThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards
A descending movement down to the next support at 195.84100 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 198.94600 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Southern Doji’ candlestick pattern is existing. The candles show ‘Southern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94600 |
| Current Price | 197.90900 |
| Next Low | 195.84100 |
| 2nd Low | 194.63800 |
| 3rd Low | 194.18900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Southern Doji