GBP/JPY – 4H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline upwards
A continuation of the bullish trend up to the next resistance line at 206.852 is expected.
Caution: A possible change in the direction of the support level at 204.284 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The currency 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 206.852 |
| Current Price | 205.50000 |
| Next Low | 204.284 |
| 2nd Low | 202.34 |
| 3rd Low | 199.058 |
206.852 – 204.063 – 203.258 – 204.284 – 202.34 – 199.058 —
205.18800 – 205.70600 —
49.436894939522 – 53.776613904616 —
– —
206.85200 – 1763654400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – – – – – – – –