GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the uptrend up to the next resistance line at 211.437 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 210.502 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘%K crosses above %D’ indicator signal is detected. The indicator is ‘%K crosses above %D’. this is usually a bullish chart scenario. The currency pair could go up.
Next a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘Northern Doji’. which 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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 211.587 |
| 2nd High | 211.501 |
| Next High | 211.437 |
| Current Price | 211.75900 |
| Next Low | 210.502 |
| 2nd Low | 210.251 |
| 3rd Low | 210.038 |
211.437 – 211.093 – 211.501 – 210.502 – 210.251 – 210.42 —
210.92100 – 211.59100 —
44.760606450164 – 62.87684994523 —
– —
211.43700 – 1767340800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – – – – – – – –