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 is considered certain.

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

Furthermore a ‘%K crosses below %D’ indicator signal is existing. The indicator is ‘%K crosses below %D’. which is often a bearish chart signal. The currency pair is likely to fall.

Furthermore a ‘Northern Doji’ candle chart pattern is detected. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 — 86.236178453785 – 89.555720602974 – 77.491859612788 – 84.667870397413

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