GBP/JPY – 30M – BUY

The combination British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.

A continuation of the bullish trend upwards to the next resistance level at 216.592 is expected.

Caution: A possible reversal of the trend in the direction of the support zone at 213.63 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘MACD crosses above signal’ indicator layout is found. The indicator is ‘MACD crosses above signal’. which is often a bullish chart signal. The currency pair is likely to rise.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which is often a bullish signal. The currency pair is likely to rise.

Moreover a ‘Northern Doji’ candlestick pattern is discovered. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

214.065 – 212.768 – 213.104 – 213.63 – 212.549 – 211.938 —
213.87100 – 214.06300 —
56.70060516794 – 67.857446360173 —
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214.065 – 1778005800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – – – – – – – –