GBP/JPY – 30M – BUYAnd also a ‘Head and Shoulder chart pattern’ chart layout is found. The chart picture shows ‘Head and Shoulder chart pattern’. this is a bearish chart scenario. The currency pair is likely to fall.
And also a ‘%K crosses above %D’ indicator signal is detected. The indicator shows ‘%K crosses above %D’. which is often a bullish chart signal. The currency pair is likely to rise.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 211.2885 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of resistance at 211.414 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 212.075 |
| 2nd High | 211.75 |
| Next High | 211.414 |
| Current Price | 210.88300 |
| Next Low | 210.502 |
| 2nd Low | 210.338 |
| 3rd Low | 210.251 |
211.414 – 211.75 – 211.738 – 211.016 – 211.278 – 211.306 —
211.06100 – 210.96000 —
39.612131719525 – 31.422666073902 —
– —
211.41400 – 1767790800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Head and Shoulder chart pattern – – – – – – – –