GBP/JPY – 30M – BUY

Furthermore a ‘Double top retreat up’ chart pattern is detected. The chart picture forms ‘Double top retreat up’. which is a positive pattern signal. The currency pair is likely to rise.

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

An ascending movement upwards to the next resistance line at 195.34300 is expected.

Caution: A possible counter-trend in the direction of the support level at 194.88000 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.

Furthermore a ‘Northern Doji’ candle pattern is found. The chart shows ‘Northern Doji’. this is a bullish pattern 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).

195.34300 – 196.84100 – 196.16700 – 194.88000 – 195.39800 – 194.97500

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