GBP/JPY – 30M – BUY

The combination British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline upwards

A continuation of the upward movement upwards to the next resistance level at 212.857 is likely expected.

Caution: A possible reversal of the trend in the direction of support at 211.78 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Northern Doji’ candlestick chart pattern is detected. The candles form ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

212.857 – 212.822 – 212.465 – 211.78 – 211.279 – 211.489 —
213.04300 – 213.25600 —
59.12327602979 – 56.006616087868 —
– —
212.857 – 1770087600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double top retreat up – – – – – – – –