GBP/JPY – 4H – BUY

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

An ascent upwards to the next resistance level at 214.285 is certain.

Caution: A possible change in the direction of the support level at 210.648 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is certain. Current target is 214.285 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance level at 214.285 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Northern Doji’ chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

213.487 – 214.285 – 212.146 – 210.648 – 210.296 – 210.251 —
212.61900 – 213.42500 —
43.418699481908 – 58.436486712152 —
– —
213.48700 – 1768896000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double top retreat up – – – – – – – –