GBP/JPY – 1H – BUY

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

A continuation of the downtrend down to the next support line at 191.89200 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 193.58200 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart scenario. The pair is likely to go down.

Furthermore a ‘Northern Doji’ candlestick pattern is discovered. The candles form ‘Northern Doji’. which is a bullish signal. 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).

Furthermore a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.

193.58200 – 193.57700 – 193.70800 – 191.89200 – 192.57300 – 192.91200

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji