GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance level at 196.69900 is considered certain.
Caution: A possible reversal of the trend in the direction of the support line at 196.15200 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Northern Doji’ chart pattern is detected. The chart shows ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 196.84100 |
| Next High | 196.69900 |
| Current Price | 197.99400 |
| Next Low | 196.15200 |
| 2nd Low | 195.69200 |
| 3rd Low | 194.01200 |
196.69900 – 196.32600 – 196.03400 – 196.15200 – 195.69200 – 194.01200
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji