GBP/JPY – 1H – SELL

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

A continuation of the downtrend down to the next support at 195.35600 is certain.

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

Also there is a ‘%K crosses above %D’ indicator signal is discovered. The indicator shows ‘%K crosses above %D’. this is usually a bearish chart scenario. The pair is likely to go down.

Also there is a ‘Northern Doji’ candle chart pattern is detected. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. 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 — 86.236178453785 – 89.555720602974 – 77.491859612788 – 84.667870397413

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Triple top chart pattern – –