GBP/JPY – 1H – BUY

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

A continuation of the bullish trend up to the next resistance level at 210.987 is expected.

Caution: A possible trend reversal in the direction of the support line at 209.176 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Bullish Belt Hold’ candlestick chart pattern is detected. The candles form ‘Bullish Belt Hold’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).

210.987 – 210.613 – 210.559 – 209.176 – 209.481 – 209.213 —
211.39400 – 211.04300 —
64.424198217473 – 54.874997387949 —
– —
210.987 – 1772784000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Belt Hold – – – – – – – – –