GBP/JPY – 4H – BUY

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

The bullish trend up to the next resistance level at 214.218 is considered certain.

Caution: A possible reversal of the trend in the direction of support at 210.44 could occur.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Three Outside Up’ candlestick pattern is existing. The candles form ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. 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).

214.218 – 216.592 – 216.047 – 210.44 – 214.941 – 214.883 —
212.95300 – 213.39100 —
47.374600973797 – 52.12579566501 —
– —
214.218 – 1778040000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – Symmetrical Triangle Chart Pattern – – – – – – – –