GBP/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support level at 195.35600 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 198.09900 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. which is a positive pattern signal. The currency 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).

198.09900 – 197.54600 – 197.55000 – 195.35600 – 196.27200 – 197.21000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Triple top chart pattern