GBP/JPY – 1H – BUY

The combination British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline upwards

A continuation of the bullish trend up to the next resistance at 200.264 is expected.

Caution: A possible change in the direction of the support level at 199.9 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. which is often a bullish chart scenario. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 200.142 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 200.264 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Northern Doji’ candle chart pattern is existing. The chart shows ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

199.8 – 200.142 – 199.132 – 199.9 – 199.658 – 199.289 — 57.066232529449 – 57.178164695511 — 73.352676947492 – 71.124873167421 – 77.078682092648 – 73.192904811854

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