GBP/JPY – 1H – SELL

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

A continuation of the bearish trend downwards to the next support line at 195.35600 is expected.

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

And also a ‘Northern Doji’ candle chart pattern is found. 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 success rate of a ‘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 – –