GBP/JPY – 30M – SELL

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

A bearish descent downwards to the next support level at 203.975 is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 205.364 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘%K crosses above %D’ indicator signal is existing. The indicator shows ‘%K crosses above %D’. which is often a bullish chart signal. The currency pair could go up.

Also there is a ‘Northern Doji’ candlestick chart pattern is existing. The chart forms ‘Northern Doji’. this is a bullish 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’ going up is 52% (Bull Market) & 51% (Bear Market).

205.364 – 204.737 – 204.293 – 204.57800 – 203.975 – 203.883 —
204.86200 – 204.87100 —
54.365919054268 – 52.870410317849 —
204.57800 – 1763575200 —
205.36400 – 1763571600

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