GBP/JPY – 30M – SELL

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

A continuation of the downtrend down to the next support line at 199.368 is expected.

Caution: A possible trend reversal in the direction of resistance at 199.786 could happen.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Northern Doji’ candlestick chart pattern is detected. The chart forms ‘Northern Doji’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

199.786 – 199.76 – 200.35 – 199.368 – 199.104 – 199.205 — 51.867304389138 – 49.752688380972 — 31.733462095606 – 41.789795589892 – 33.775967402235 – 33.03745523929

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