GBP/JPY – 30M – BUY

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

A bullish ascent upwards to the next resistance at 207.355 is likely expected.

Caution: A possible trend reversal in the direction of the support level at 206.181 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.

Additionally a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to rise. 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).

207.014 – 207.355 – 207.335 – 206.181 – 206.471 – 206.344 —
206.76600 – 206.97000 —
54.843602912656 – 62.049560569415 —
– —
207.01400 – 1764867600

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