The pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
A bullish trend upwards to the next resistance line at 218.939 is certain.
Caution: A possible reversal of the trend in the direction of the support level at should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bullish signal. The currency pair could go up.
Also there is a ‘Bullish Engulfing’ candlestick pattern is detected. The candles form ‘Bullish Engulfing’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 219.528 |
| 2nd High | 219.396 |
| Next High | 218.939 |
| Current Price | 218.55500 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
218.939 – 219.396 – 219.528 – 217.99 – 218.668 – 218.844 —
218.45100 – 218.57100 —
46.644813369227 – 55.723740266936 —
– —
218.939 – 1784260800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing – – – – – – – – –