GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline upwards

A continuation of the uptrend up to the next resistance at 204.52 is likely expected.

Caution: A possible change in the direction of the support level at 203.127 should be noted.
Consider stop-loss settings accordingly.

Besides a ‘%K crosses above %D’ indicator layout is existing. The indicator is ‘%K crosses above %D’. which could be a positive chart signal. The currency pair is likely to rise.

Besides a ‘Northern Doji’ candle pattern is found. The chart shows ‘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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

204.52 – 203.602 – 203.946 – 203.127 – 202.34 – 202.631 —
204.21400 – 204.21300 —
54.504388354687 – 51.400694924435 —
– —
204.52000 – 1763406000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – – – –