GBP/JPY – 1H – BUY

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

A continuation of the upward movement up to the next resistance at 195.89500 will persist.

Caution: A possible trend reversal in the direction of the support level at 193.62500 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 195.895 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance level at 195.89500 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

Download GBP/JPY Signal Image

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