GBP/JPY – 30M – BUY

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

A continuation of the bullish trend up to the next resistance at 214.103 is expected.

Caution: A possible counter-trend in the direction of the support level at 212.676 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The pair is likely to go up.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which is often a bullish chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 213.487 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 214.103 is within the realm of possibility.
Consider stop-loss settings accordingly.

Moreover a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘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).

213.432 – 212.757 – 212.646 – 212.676 – 211.583 – 212.114 —
214.11700 – 213.50400 —
63.899764749242 – 38.477349683637 —
– —
213.43200 – 1769074200

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