Buy GBP/JPY – 4H – BUY

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

A bullish trend upwards to the next resistance level at 194.20600 will continue.

Caution: A possible counter-trend in the direction of support at 191.89200 could happen.
Consider stop-loss settings accordingly.

There is also a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish signal. The pair is likely to go up.

There is also a ‘Northern Doji’ candle chart pattern is detected. The chart shows ‘Northern Doji’. which 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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

There is also a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The currency pair is likely to rise.

Support & Resistance Price Range*
3rd High
2nd High 196.40500
Next High 194.20600
Current Price 192.93600
Next Low 191.89200
2nd Low 190.31400
3rd Low 189.97500

194.20600 – 196.40500 – 193.74200 – 191.89200 – 192.76600 – 190.31400

Download GBP/JPY Signal Image

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