GBP/JPY – 1H – BUY

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

A bullish movement upwards to the next resistance at 205.985 will continue.

Caution: A possible reversal of the trend in the direction of support at 204.995 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which is often a bullish chart signal. The currency pair could go up.

Also there is a ‘Northern Doji’ candlestick pattern is existing. The candles form ‘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 success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

205.985 – 205.902 – 206.852 – 204.995 – 204.284 – 203.975 —
205.56600 – 205.91200 —
49.29306371692 – 56.375033490187 —
– —
205.98500 – 1764100800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – – – – – – – –