GBP/JPY – 30M – BUY

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

A bullish trend upwards to the next resistance level at 197.74800 is certain.

Caution: A possible change in the direction of support at 195.35600 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.

There is also a ‘Bullish Belt Hold’ candlestick pattern is found. The candles form ‘Bullish Belt Hold’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).

196.31100 – 197.54600 – 197.55000 – 195.35600 – 196.94200 – 196.27200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Belt Hold – Head and Shoulder chart pattern