GBP/JPY – 4H – SELL

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

A descending movement downwards to the next support line at 193.75600 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

There is also a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

There is also a ‘Northern Doji’ candlestick pattern is existing. The chart shows ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

196.44100 – 196.30800 – 194.20600 – 193.75600 – 194.77100 – 192.72200

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