GBP/JPY – 30M – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline down.

A bearish descent downwards to the next support level at 213.203 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 213.598 is within the realm of possibility.
Consider stop-loss settings accordingly.

Also there is a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

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

213.598 – 213.723 – 213.091 – 213.203 – 213.328 – 212.841 —
213.70500 – 213.69600 —
59.442204166267 – 51.705196328047 —
– —
213.598 – 1782448200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Southern Doji – Symmetrical Triangle Chart Pattern – – – – – – – –