Buy GBP/JPY – 1H – BUY

The pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline down.

A descending movement downwards to the next support line at 190.31400 is considered certain.

Caution: A possible counter-trend in the direction of the resistance line at 191.66300 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish chart scenario. The currency pair is likely to rise.

Moreover a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

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

Support & Resistance Price Range*
3rd High 193.74200
2nd High 192.62900
Next High 191.66300
Current Price 191.46600
Next Low 190.31400
2nd Low 189.97500
3rd Low 189.29800

191.66300 – 192.62900 – 193.74200 – 190.31400 – 191.46900 – 189.97500

Download GBP/JPY Signal Image

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