GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement up to the next resistance line at 200.142 is expected.
Caution: A possible counter-trend in the direction of the support level at 199.289 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Northern Doji’ candle pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 200.264 |
| Next High | 200.142 |
| Current Price | 200.15400 |
| Next Low | 199.289 |
| 2nd Low | 198.786 |
| 3rd Low | 198.669 |
199.8 – 200.142 – 199.132 – 199.289 – 198.786 – 199.353 — 60.836582934072 – 65.632001969967 — 41.708815028902 – 75.042148362235 – 48.401646231119 – 53.429070327553
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Rising Wedge Chart Pattern – –