GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.
A descent downwards to the next support at 210.502 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 211.75 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive chart scenario. The currency pair could go up.
Moreover a ‘%K crosses above %D’ indicator layout is found. The indicator is ‘%K crosses above %D’. which could be a positive chart scenario. The currency pair could go up.
Moreover a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which is often a bullish signal. The currency pair is likely to rise.
Moreover a ‘Northern Doji’ chart pattern is discovered. The chart shows ‘Northern Doji’. which is a bullish signal. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 212.146 |
| Next High | 211.75 |
| Current Price | 211.21200 |
| Next Low | 210.502 |
| 2nd Low | 210.251 |
| 3rd Low | 210.038 |
211.75 – 212.146 – 211.437 – 210.502 – 210.251 – 210.42 —
211.35200 – 211.16200 —
39.513919955643 – 37.531557338294 —
– —
211.75000 – 1767758400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – – – – – – – –