GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline down.

A descending movement down to the next support level at 194.97500 is likely expected.

Caution: A possible reversal of the trend in the direction of resistance at 196.84100 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Furthermore a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

196.84100 – 196.23600 – 195.91800 – 194.97500 – 193.75600 – 194.70800

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