GBP/JPY – 1H – SELLThe combination British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 195.35600 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 198.09900 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Northern Doji’ candle pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish chart scenario. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.80000 |
| 2nd High | 198.74400 |
| Next High | 198.09900 |
| Current Price | 197.23800 |
| Next Low | 195.35600 |
| 2nd Low | 194.01200 |
| 3rd Low | 193.75600 |
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 –