GBP/JPY – 1H – SELL

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

A continuation of the bearish trend downwards to the next support at 195.35600 is expected.

Caution: A possible change in the direction of the resistance line at 198.09900 should be noted.
Consider stop-loss settings accordingly.

Also there is a ‘StochRSI fall below 80’ indicator layout is detected. The indicator is ‘StochRSI fall below 80’. this is usually a bearish chart scenario. The currency pair could go down.

Also there is a ‘Northern Doji’ candlestick chart pattern is found. The chart forms ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. 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 – – –