GBP/JPY – 30M – BUY

The pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.

A continuation of the upward movement up to the next resistance line at 213.432 will persist.

Caution: A possible reversal of the trend in the direction of the support level at 212.676 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘%K crosses above %D’ indicator signal is found. The indicator shows ‘%K crosses above %D’. which is often a bullish signal. The pair is likely to go up.

Next a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. 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).

213.432 – 212.757 – 212.646 – 212.676 – 211.583 – 212.114 —
213.22600 – 213.61200 —
51.208469518474 – 63.395624826839 —
– —
213.43200 – 1769074200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – – – – – – – –