GBP/JPY – 30M – SELL

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

A descending movement downwards to the next support at 210.502 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 211.75 should be noted.
Consider stop-loss settings accordingly.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 210.889984 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 211.75 should be noted.
Consider stop-loss settings accordingly.

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

211.75 – 211.738 – 212.075 – 211.278 – 211.306 – 210.502 —
211.51300 – 211.14800 —
40.836705076339 – 32.056667711932 —
– —
211.75000 – 1767758400

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