GBP/JPY – 1H – SELL

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

A continuation of the bearish trend down to the next support line at 195.35600 is considered certain.

Caution: A possible counter-trend in the direction of the resistance line at 198.09900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘StochRSI fall below 80’ indicator signal is existing. The indicator is ‘StochRSI fall below 80’. which could be a negative signal. The pair is likely to go down.

Additionally a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 – –