GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline down.

A continuation of the bearish trend downwards to the next support at 214.883 is likely expected.

Caution: A possible change in the direction of resistance at 216.047 could happen.
Consider stop-loss settings accordingly.

Also there is a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart scenario. The pair is likely to go down.

Also there is a ‘StochRSI %K falls below 0.8’ indicator layout is discovered. The indicator shows ‘StochRSI %K falls below 0.8’. this is usually a bearish chart scenario. The pair is likely to go down.

Also there is a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 214.93538 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 216.047 could happen.
Consider stop-loss settings accordingly.

Also there is a ‘Southern Doji’ candle chart pattern is discovered. The chart shows ‘Southern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).

216.047 – 215.768 – 215.726 – 214.883 – 215.064 – 214.915 —
215.78100 – 215.77400 —
52.629768856384 – 49.568123299309 —
– —
216.047 – 1777302000

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