GBP/JPY – 30M – BUY

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

A continuation of the upward movement up to the next resistance line at 204.87 is likely expected.

Caution: A possible reversal of the trend in the direction of the support line at 203.88300 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair is likely to rise.

Additionally a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. 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).

204.293 – 204.52 – 203.602 – 203.88300 – 203.69 – 203.127 —
204.18800 – 204.48200 —
49.911066847253 – 56.679312126032 —
203.88300 – 1763479800 —
204.29300 – 1763431200

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