GBP/JPY – 1H – BUY

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

A continuation of the uptrend up to the next resistance line at 214.998 will continue.

Caution: A possible trend reversal in the direction of the support line at 213.863 should be noted.
Consider stop-loss settings accordingly.

Next a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The currency pair could go up.

Next a ‘Three Outside Up’ candlestick chart pattern is found. The candles show ‘Three Outside Up’. which 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).

214.998 – 214.934 – 215.23 – 213.863 – 214.324 – 214.306 —
214.96900 – 215.15700 —
58.411904319275 – 60.166732780635 —
– —
214.998 – 1781247600

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