GBP/JPY – 30M – BUY

The combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline up.

A continuation of the upward movement up to the next resistance line at 202.672 will continue.

Caution: A possible counter-trend in the direction of the support level at 200.645 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Northern Doji’ candlestick pattern is detected. The candles form ‘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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

201.384 – 201.243 – 201.2 – 200.645 – 200.697 – 200.297 —
202.08800 – 202.22700 —
65.38980977711 – 65.043741249172 —
– —
201.38400 – 1762509600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Inverse Head and Shoulder chart pattern – – –