GBP/JPY – 1H – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline downwards

A continuation of the downtrend downwards to the next support line at 195.35600 will persist.

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

Furthermore a ‘StochRSI fall below 80’ indicator layout is found. The indicator is ‘StochRSI fall below 80’. which could be a negative chart signal. The currency pair is likely to fall.

Furthermore a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 – – –