GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline up.
An ascent upwards to the next resistance at 197.55000 is certain.
Caution: A possible change in the direction of the support level at 196.94200 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bullish chart signal. The currency pair could go up.
In addition a ‘Northern Doji’ candle pattern is discovered. The chart shows ‘Northern Doji’. which is a positive 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.00400 |
| 2nd High | 197.74800 |
| Next High | 197.55000 |
| Current Price | 197.39400 |
| Next Low | 196.94200 |
| 2nd Low | 196.27200 |
| 3rd Low | 196.15200 |
197.55000 – 197.74800 – 198.00400 – 196.94200 – 196.27200 – 197.18400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern