GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards

An ascending movement upwards to the next resistance at 200.35 is likely expected.

Caution: A possible counter-trend in the direction of the support level at 199.694 should always be considered.
Consider stop-loss settings accordingly.

Also there is a ‘Northern Doji’ chart pattern is existing. The candles show ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

200.35 – 200.713 – 200.643 – 199.694 – 199.289 – 198.786 — 59.785128241507 – 62.778020182245 — 76.494531901329 – 81.835123338728 – 68.951474828546 – 77.084664685029

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