GBP/JPY – 1H – BUY

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

A continuation of the uptrend upwards to the next resistance level at 198.59300 is certain.

Caution: A possible change in the direction of support at 197.70300 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bullish chart signal. The currency pair is likely to rise.

Next a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which is often a bullish signal. The currency pair could go up.

Next a ‘Northern Doji’ chart pattern is found. The chart shows ‘Northern Doji’. this 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).

198.59300 – 198.19500 – 196.84100 – 197.70300 – 197.03800 – 196.94100

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