GBP/JPY – 30M – SELL

Next a ‘Rising Wedge Chart Pattern’ chart pattern is discovered. The chart picture shows ‘Rising Wedge Chart Pattern’. this is a bearish signal. The currency pair is likely to fall.

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards

A descent downwards to the next support at 206.871 is considered certain.

Caution: A possible trend reversal in the direction of the resistance zone at 207.335 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair could go down.

Next a ‘Southern Doji’ chart pattern is discovered. The candles show ‘Southern Doji’. which 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 ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).

207.335 – 206.187 – 206.248 – 206.871 – 205.473 – 205.296 —
207.31500 – 207.28300 —
65.039564882848 – 51.731209430617 —
– —
207.33500 – 1764804600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Southern Doji – Rising Wedge Chart Pattern – – – – – – – –