GBP/JPY – 30M – BUY

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

A continuation of the bullish trend upwards to the next resistance at 195.76700 is certain.

Caution: A possible counter-trend in the direction of the support line at 193.62600 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 194.209 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 195.76700 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

Moreover a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair could go up.

194.20900 – 193.49300 – 191.66300 – 193.62600 – 192.34300 – 190.65700

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji