GBP/JPY – 1H – BUY

The pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards

A continuation of the upward movement upwards to the next resistance at 195.89500 is likely expected.

Caution: A possible counter-trend in the direction of the support zone at 193.62500 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 195.895 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 195.89500 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Outside Up’ candlestick pattern is discovered. The candles show ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

Download GBP/JPY Signal Image

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