GBP/JPY – 30M – BUY

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

A continuation of the upward movement up to the next resistance line at 212.409 is considered certain.

Caution: A possible counter-trend in the direction of the support line at 211.973 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Three Outside Up’ candle chart pattern is existing. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

212.409 – 212.177 – 211.54 – 211.973 – 211.589 – 210.601 —
212.82900 – 212.53600 —
74.229608264378 – 49.338933613704 —
– —
212.409 – 1773165600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – – – – – – – – –