GBP/JPY – 30M – BUY

Furthermore a ‘Falling Wedge Chart Pattern’ chart layout is detected. The chart picture forms ‘Falling Wedge Chart Pattern’. which is a positive pattern signal. The currency pair is likely to rise.

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

A continuation of the upward movement up to the next resistance line at 196.84100 will persist.

Caution: A possible change in the direction of the support level at 195.39800 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart signal. The currency pair is likely to rise.

Furthermore a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bullish signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 196.841 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 196.84100 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Northern Doji’ chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish signal. 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).

196.84100 – 196.16700 – 196.05800 – 195.39800 – 194.97500 – 193.75600

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