GBP/JPY – 1H – BUY

Next a ” indicator signal is discovered. The indicator is ”. this is usually a bullish chart scenario. The currency pair is likely to rise.

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Next a ‘MACD crosses above signal’ indicator signal is discovered. The indicator is ‘MACD crosses above signal’. this is usually a bullish chart scenario. The currency pair is likely to rise.

Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a positive signal. The currency pair is likely to rise.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is expected. Current target is 212.146 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of the resistance line at 212.061 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Outside Up’ chart pattern is discovered. The candles show ‘Three Outside Up’. 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 ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

212.061 – 211.043 – 211.75 – 210.296 – 210.502 – 210.251 —
211.98500 – 211.89400 —
67.992090409683 – 58.604217532277 —
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212.06100 – 1767981600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – Inverse Head and Shoulder chart pattern – – – – – – – –