GBP/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Current target is 191.663 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 191.81700 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. this is a bullish chart scenario. 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).
There is also a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.74200 |
| 2nd High | 192.62900 |
| Next High | 191.81700 |
| Current Price | 191.80700 |
| Next Low | 190.65700 |
| 2nd Low | 190.31400 |
| 3rd Low | 189.97500 |
191.66300 – 191.26600 – 191.33700 – 190.65700 – 190.31400 – 190.44800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji