GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes 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 zone at 198.09900 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘StochRSI fall below 80’ indicator layout is found. The indicator is ‘StochRSI fall below 80’. which could be a negative signal. The currency pair could go down.

Also there is a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. 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 – Triple top chart pattern – –