GBP/JPY – 30M – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards

A bearish descent downwards to the next support at 195.39800 is certain.

Caution: A possible change in the direction of the resistance line at 196.84100 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The currency pair could go down.

Then a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The currency pair could go down.

Then a ‘Southern Doji’ candle 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 chance of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).

196.84100 – 196.16700 – 196.05800 – 195.39800 – 194.97500 – 193.75600

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