GBP/JPY – 1H – BUY

Next a ‘MACD crosses above signal’ indicator layout is found. The indicator is ‘MACD crosses above signal’. which could be a positive chart signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Current target is 211.8335 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance zone at 212.721 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bullish Belt Hold’ chart pattern is discovered. The chart forms ‘Bullish Belt Hold’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).

212.721 – 212.482 – 211.579 – 211.946 – 211.628 – 210.8 —
211.29300 – 211.90200 —
25.969711049614 – 41.718530595122 —
– —
212.721 – 1773864000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Belt Hold – – – – – – – – –