GBP/JPY – 30M – BUY

The pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards

An ascent upwards to the next resistance at 215.726 will continue.

Caution: A possible counter-trend in the direction of the support line at 215.064 is within the realm of possibility.
Consider stop-loss settings accordingly.

Then a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which is often a bullish chart signal. The currency pair could go up.

Then a ‘Bullish Engulfing’ candle pattern is detected. The chart forms ‘Bullish Engulfing’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.

215.726 – 215.533 – 215.655 – 215.064 – 214.915 – 215.014 —
215.09500 – 215.10200 —
41.205345432196 – 45.882280350753 —
– —
215.726 – 1776947400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing – – – – – – – – –