GBP/JPY – 1H – BUY

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

A continuation of the bullish trend upwards to the next resistance at 215.518 is considered certain.

Caution: A possible reversal of the trend in the direction of support at 213.863 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘StochRSI %K line crosses above %D line’ indicator signal is discovered. The indicator is ‘StochRSI %K line crosses above %D line’. which is often a bullish signal. The currency pair could go up.

Furthermore a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.

Furthermore a ‘Three Outside Up’ candlestick pattern is discovered. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

214.998 – 214.934 – 215.23 – 213.863 – 214.324 – 214.306 —
214.85500 – 215.22400 —
47.87271206254 – 58.676958594404 —
– —
214.998 – 1781247600

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