GBP/JPY – 1H – BUY

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

A bullish trend up to the next resistance line at 213.565 is considered certain.

Caution: A possible trend reversal in the direction of the support level at 213.209 is also possible.
Consider stop-loss settings accordingly.

Furthermore a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. this is usually a bullish chart scenario. The pair is likely to go up.

Furthermore a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. 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 likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

213.565 – 214.056 – 215.553 – 213.209 – 214.519 – 214.302 —
212.99900 – 212.99400 —
35.173340134117 – 42.533885386803 —
– —
213.565 – 1781820000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Symmetrical Triangle Chart Pattern – – – – – – – –