GBP/JPY – 1H – SELL

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

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

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

And also a ‘StochRSI fall below 80’ indicator signal is detected. The indicator is ‘StochRSI fall below 80’. which is often a bearish chart signal. The currency pair could go down.

And also a ‘Northern Doji’ candle chart pattern is existing. The candles show ‘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’ 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 – – –