GBP/JPY – 1H – SELL

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

A continuation of the downtrend downwards to the next support level at 195.35600 will continue.

Caution: A possible change in the direction of the resistance line at 198.09900 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading 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 – –