GBP/JPY – 1H – SELL

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

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

Caution: A possible counter-trend in the direction of the resistance zone at 198.09900 could happen.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Northern Doji’ candlestick chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. 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).

198.09900 – 197.54600 – 197.55000 – 195.35600 – 196.27200 – 197.21000 — 53.538581565966 – 49.684327780256

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