GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at 193.49300 is likely expected.
Caution: A possible change in the direction of the support level at 192.34300 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.76700 |
| 2nd High | 193.74200 |
| Next High | 193.49300 |
| Current Price | 192.96300 |
| Next Low | 192.34300 |
| 2nd Low | 190.65700 |
| 3rd Low | 190.31400 |
193.49300 – 191.66300 – 191.26600 – 192.34300 – 190.65700 – 190.31400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji