Buy GBP/JPY – 1H – BUY

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

A continuation of the bullish trend up to the next resistance line at 193.66300 is considered certain.

Caution: A possible reversal of the trend in the direction of the support level at 189.29800 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Northern Doji’ candle pattern is discovered. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

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

Support & Resistance Price Range*
3rd High 195.96900
2nd High 195.76700
Next High 193.66300
Current Price 190.38200
Next Low 189.29800
2nd Low 188.19900
3rd Low 187.46000

190.30800 – 189.95600 – 188.76800 – 189.29800 – 188.19900 – 187.46000

Download GBP/JPY Signal Image

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