GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline up.
A continuation of the uptrend upwards to the next resistance line at 196.16700 will continue.
Caution: A possible reversal of the trend in the direction of support at 195.39800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 196.44100 |
| 2nd High | 196.23600 |
| Next High | 196.16700 |
| Current Price | 195.97900 |
| Next Low | 195.39800 |
| 2nd Low | 194.97500 |
| 3rd Low | 193.75600 |
196.16700 – 196.05800 – 195.97000 – 195.39800 – 194.97500 – 193.75600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji