GBP/JPY – 4H – BUY

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

A continuation of the bullish trend up to the next resistance line at 198.19500 is considered certain.

Caution: A possible counter-trend in the direction of support at 194.01200 should be noted.
Consider stop-loss settings accordingly.

There is also a ‘Northern Doji’ chart pattern is found. 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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

198.19500 – 196.84100 – 196.44100 – 194.01200 – 193.75600 – 194.77100

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