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 certain.

Caution: A possible trend reversal in the direction of the resistance line at 198.09900 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘StochRSI fall below 80’ indicator layout is detected. The indicator shows ‘StochRSI fall below 80’. which could be a negative chart scenario. The currency pair could go down.

Besides a ‘Northern Doji’ candlestick pattern is existing. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 – Triple top chart pattern – –