GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at is certain.
Caution: A possible trend reversal in the direction of the resistance line at 199.132 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair could go down.
Then a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.29 |
| 2nd High | 199.183 |
| Next High | 199.132 |
| Current Price | 198.69600 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
199.132 – 199.183 – 199.05 – 198.371 – 198.271 – 198.739 — 40.937712012744 – 37.241834236653 — 2.1081739102394 – 2.1081739102394 – 0.70272463674645 – 1.4054492734929
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom retreat down – –