GBP/JPY – 1H – SELL

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

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

Caution: A possible trend reversal in the direction of resistance at 198.09900 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘StochRSI fall below 80’ indicator layout is existing. The indicator shows ‘StochRSI fall below 80’. which could be a negative signal. The currency pair is likely to fall.

Moreover a ‘Northern Doji’ chart pattern is discovered. The chart shows ‘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 probability 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 — 100 – 76.48

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – –