GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance line at 199.8 is certain.
Caution: A possible trend reversal in the direction of the support level at could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The pair is likely to go up.
Additionally a ‘Northern Doji’ chart pattern is detected. The chart forms ‘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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 200.264 |
| 2nd High | 200.142 |
| Next High | 199.8 |
| Current Price | 199.66600 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
199.8 – 200.142 – 199.132 – 199.289 – 198.786 – 199.353 — 50.964343072027 – 51.89163072947 — 17.995647088441 – 14.399898022493 – 35.066752686929 – 21.500048739604
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Triple top chart pattern – –