GBP/JPY – 4H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at is certain.
Caution: A possible change in the direction of support at 210.296 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 212.86900 |
| Next Low | 210.296 |
| 2nd Low | 210.251 |
| 3rd Low | 210.038 |
212.146 – 211.501 – 211.587 – 210.296 – 210.251 – 210.038 —
211.37000 – 212.47100 —
56.213686740518 – 70.306927112051 —
– —
212.14600 – 1767657600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – – – – – – – –