GBP/JPY – 30M – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 206.044 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 204.578 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘%K cross above 20’ indicator signal is discovered. The indicator shows ‘%K cross above 20’. this is usually a bullish chart scenario. The currency pair is likely to rise.
Furthermore a ‘Bullish Engulfing’ candle pattern is discovered. The chart shows ‘Bullish Engulfing’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 206.044 |
| Current Price | 206.07800 |
| Next Low | 204.578 |
| 2nd Low | 203.975 |
| 3rd Low | 203.883 |
206.044 – 205.364 – 204.737 – 204.578 – 203.975 – 203.883 —
206.45600 – 206.05400 —
70.610078283581 – 49.108776219617 —
– —
206.04400 – 1763627400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing – Double bottom chart pattern – – – –