GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline down.
A descending movement downwards to the next support line at 190.31400 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 191.66300 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The currency pair is likely to rise.
Moreover a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Moreover a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.74200 |
| 2nd High | 192.62900 |
| Next High | 191.66300 |
| Current Price | 191.46600 |
| Next Low | 190.31400 |
| 2nd Low | 189.97500 |
| 3rd Low | 189.29800 |
191.66300 – 192.62900 – 193.74200 – 190.31400 – 191.46900 – 189.97500
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji