GBP/JPY – 30M – BUY

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

The bullish trend up to the next resistance level at 212.109 will continue.

Caution: A possible counter-trend in the direction of the support level at 211.71 could be enabled.
Consider stop-loss settings accordingly.

Then a ‘MACD crosses above signal’ indicator layout is detected. The indicator is ‘MACD crosses above signal’. this is usually a bullish signal. The currency pair is likely to rise.

Then a ‘Latter Bottom’ candle pattern is existing. The candles show ‘Latter Bottom’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).

212.109 – 211.579 – 212.866 – 211.71 – 210.8 – 210.914 —
211.90100 – 212.14200 —
56.567887573097 – 64.189336524485 —
– —
212.109 – 1773700200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Latter Bottom – – – – – – – – –