GBP/JPY – 1H – BUY

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

An ascending movement upwards to the next resistance level at 215.768 is expected.

Caution: A possible counter-trend in the direction of the support level at 214.883 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.

Also there is a ‘Bearish SBS White Lines’ candlestick chart pattern is existing. The candles show ‘Bearish SBS White Lines’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).

215.768 – 215.726 – 215.655 – 214.883 – 215.064 – 214.915 —
215.69100 – 215.75000 —
59.475118545651 – 53.421732530923 —
– —
215.768 – 1777071600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines – – – – – – – – –