GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline upwards

An ascending movement upwards to the next resistance level at 197.74800 will continue.

Caution: A possible counter-trend in the direction of the support zone at 196.27200 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart signal. The currency pair could go up.

Additionally a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bullish chart scenario. The currency pair could go up.

Additionally a ‘Northern Doji’ chart pattern is existing. The candles form ‘Northern Doji’. this 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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

197.74800 – 198.00400 – 198.74400 – 196.27200 – 197.18400 – 197.21000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double top retreat up