GBP/JPY – 1H – BUY

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

A continuation of the upward movement up to the next resistance at 193.66300 is certain.

Caution: A possible trend reversal in the direction of the support level at 188.19900 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Current target is 189.956 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance line at 193.66300 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Northern Doji’ candle pattern is discovered. The candles show ‘Northern Doji’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

Furthermore a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which is often a bullish signal. The pair is likely to go up.

189.95600 – 188.76800 – 188.84300 – 188.19900 – 187.46000 – 187.99600

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji