GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline up.
An ascending movement upwards to the next resistance at 199.132 will continue.
Caution: A possible change in the direction of the support level at could occur.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish signal. The currency pair is likely to rise.
There is also a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.29 |
| 2nd High | 199.183 |
| Next High | 199.132 |
| Current Price | 199.05500 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
199.132 – 199.183 – 199.05 – 198.371 – 198.271 – 198.739 — 48.416612201055 – 52.04206564607 — 11.042050471643 – 39.728708996829 – 7.9465332859583 – 18.558918506115
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Triple bottom chart pattern – –