GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline up.

A continuation of the upward movement upwards to the next resistance line at 214.433 is certain.

Caution: A possible trend reversal in the direction of the support level at 212.552 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘StochRSI %K line crosses above %D line’ indicator signal is detected. The indicator shows ‘StochRSI %K line crosses above %D line’. this is usually a bullish chart scenario. The currency pair could go up.

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

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Current target is 213.298 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 214.433 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Three Outside Up’ candlestick chart pattern is found. The chart forms ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

214.433 – 214.189 – 214.322 – 212.552 – 212.596 – 211.597 —
213.33200 – 212.48600 —
49.358029166218 – 33.648114266871 —
– —
214.433 – 1770598800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – Double bottom chart pattern – – – – – – – –