GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance at 199.786 is certain.
Caution: A possible counter-trend in the direction of the support line at 199.104 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Northern Doji’ candle pattern is discovered. The candles show ‘Northern Doji’. this is a bullish signal. The pair is likely to go up. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 201.261 |
| Next High | 199.786 |
| Current Price | 199.64300 |
| Next Low | 199.104 |
| 2nd Low | 198.786 |
| 3rd Low | 198.669 |
199.786 – 201.261 – 199.8 – 199.104 – 199.9 – 199.658 — 49.837298938855 – 50.146120762475 — 47.329116502141 – 50.178094390027 – 52.176199452406 – 47.909806245595
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – –