GBP/JPY – 30M – BUY

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

A bullish trend upwards to the next resistance at 211.535 is considered certain.

Caution: A possible trend reversal in the direction of the support line at 210.314 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair could go up.

Then a ‘Three Outside Up’ candle pattern is detected. The chart shows ‘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).

211.535 – 211.38 – 211.305 – 210.314 – 210.334 – 209.704 —
211.39500 – 211.32000 —
57.164356848176 – 51.86530304174 —
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211.535 – 1775496600

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