GBP/JPY – 1H – BUY

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

A continuation of the bullish trend upwards to the next resistance level at 196.84100 is expected.

Caution: A possible reversal of the trend in the direction of support at 194.01200 is also possible.
Consider stop-loss settings accordingly.

Also there is a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The pair is likely to go up.

Also there is a ‘Northern Doji’ candle pattern is found. The candles show ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

196.84100 – 196.23600 – 195.91800 – 194.01200 – 194.97500 – 193.75600

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