GBP/JPY – 1H – BUY

The combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards

A continuation of the uptrend up to the next resistance level at 206.852 is likely expected.

Caution: A possible change in the direction of the support level at 204.995 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Then a ” indicator signal is found. The indicator shows ”. this is usually a bullish chart scenario. The currency pair is likely to rise.

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Then a ‘%K crosses above %D’ indicator signal is found. The indicator shows ‘%K crosses above %D’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Then a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. this is usually a bullish signal. The pair is likely to go up.

Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 206.852 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance zone at 206.852 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Three White Soldiers’ candle chart pattern is existing. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.

205.985 – 205.902 – 206.852 – 204.995 – 204.284 – 203.975 —
205.91200 – 206.44700 —
56.375033121959 – 61.829049817061 —
– —
205.98500 – 1764100800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers – – – – – – – – –