GBP/JPY – 30M – BUY

Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 211.95 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 213.299 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Matching Low’ candlestick chart pattern is discovered. The candles form ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

213.299 – 212.883 – 212.409 – 212.36 – 211.973 – 211.589 —
212.77300 – 212.71200 —
40.666904260026 – 44.721742571171 —
– —
213.299 – 1773268200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low – – – – – – – – –