GBP/JPY – 30M – SELL

Next a ‘Double bottom retreat down’ chart pattern is discovered. The chart picture forms ‘Double bottom retreat down’. which is a bearish signal. The currency pair is likely to fall.

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

A bearish movement downwards to the next support line at 203.69 will continue.

Caution: A possible change in the direction of resistance at 204.293 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

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

Next a ‘Northern Doji’ candle pattern is detected. The chart shows ‘Northern Doji’. which is a positive chart scenario. 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).

204.293 – 204.52 – 203.602 – 203.69 – 203.127 – 202.34 —
204.35300 – 204.47400 —
56.085500683917 – 54.9832795731 —
– —
204.29300 – 1763431200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom retreat down – – – –