GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline downwards
A descending movement downwards to the next support at 209.777 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 210.987 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Collapsing Doji Star’ candle chart pattern is detected. The chart forms ‘Collapsing Doji Star’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 211.376 |
| 2nd High | 211.351 |
| Next High | 210.987 |
| Current Price | 210.36400 |
| Next Low | 209.777 |
| 2nd Low | 209.176 |
| 3rd Low | 209.039 |
210.987 – 210.613 – 210.559 – 209.777 – 209.176 – 209.479 —
210.89600 – 210.63100 —
62.125024813885 – 53.498935021619 —
– —
210.987 – 1772785800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Collapsing Doji Star – – – – – – – – –