GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
The bullish trend up to the next resistance at 199.457 is considered certain.
Caution: A possible change in the direction of the support level at is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart signal. The pair is likely to go up.
Moreover a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 200.142 |
| 2nd High | 199.87 |
| Next High | 199.457 |
| Current Price | 199.45700 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
199.457 – 199.87 – 200.142 – 198.786 – 198.669 – 198.267 — 53.606358688916 – 58.421735010939 — 29.486119721706 – 59.178893710822 – 27.16929576818 – 34.461895249248
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – –