GBP/JPY – 1H – BUY

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

The bullish trend upwards to the next resistance level at 212.157 is likely expected.

Caution: A possible counter-trend in the direction of support at 210.038 should be noted.
Consider stop-loss settings accordingly.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive signal. The currency pair is likely to rise.

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

Besides a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair could go up.

Besides a ‘Three Outside Up’ chart pattern is discovered. The candles show ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

212.157 – 212.022 – 211.215 – 210.038 – 211.321 – 210.063 —
211.51500 – 211.74600 —
52.073534520982 – 54.243008036839 —
– —
212.15700 – 1769680800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – – – – – – – – –