GBP/JPY – 1H – BUY

The combination British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline upwards

A continuation of the upward movement upwards to the next resistance at 210.613 is expected.

Caution: A possible reversal of the trend in the direction of the support line at 209.176 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Up’ chart pattern is detected. The chart forms ‘Three Outside Up’. 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 probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

210.613 – 210.559 – 210.724 – 209.176 – 209.481 – 209.213 —
210.29900 – 210.51100 —
54.191157548761 – 55.420321058373 —
– —
210.613 – 1772726400

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