GBP/JPY – 1H – BUYIn addition a ‘Double top retreat up’ chart layout is existing. The chart forms ‘Double top retreat up’. which is a bullish signal. The currency pair is likely to rise.
The combination British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline upwards
A bullish ascent up to the next resistance at 198.00400 will continue.
Caution: A possible change in the direction of the support level at 196.15200 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The currency pair could go up.
In addition a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. which 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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.80000 |
| 2nd High | 198.74400 |
| Next High | 198.00400 |
| Current Price | 197.21100 |
| Next Low | 196.15200 |
| 2nd Low | 194.01200 |
| 3rd Low | 193.75600 |
198.00400 – 198.74400 – 198.80000 – 197.21000 – 197.70300 – 197.03800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double top retreat up