GBP/JPY – 30M – BUYFurthermore a ‘Falling Wedge Chart Pattern’ chart layout is detected. The formation shows ‘Falling Wedge Chart Pattern’. which is a positive pattern signal. The currency pair is likely to go up.
The combination British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
A bullish ascent upwards to the next resistance at 195.51700 is certain.
Caution: A possible reversal of the trend in the direction of support at could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart signal. The currency pair could go up.
Furthermore a ‘Northern Doji’ candlestick chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 196.44100 |
| 2nd High | 196.23600 |
| Next High | 195.51700 |
| Current Price | 195.33600 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
195.51700 – 196.23600 – 195.91800 – 194.70800 – 195.28900 – 194.77100
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji