GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement upwards to the next resistance at 189.95600 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 188.19900 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish pattern 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 190.28700 |
| 2nd High | 190.08600 |
| Next High | 189.95600 |
| Current Price | 190.26700 |
| Next Low | 188.19900 |
| 2nd Low | 187.46000 |
| 3rd Low | 187.45700 |
189.95600 – 188.76800 – 188.84300 – 188.19900 – 187.46000 – 188.02300
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji