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 level at 205.985 is likely expected.

Caution: A possible counter-trend in the direction of the support zone at 204.995 is within the realm of possibility.
Consider stop-loss settings accordingly.

And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The currency pair could go up.

And also a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. this is usually a bullish signal. The pair is likely to go up.

Correction of the major bearish trend broke through the Fibonacci 0.79-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 205.985 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the resistance zone at 205.985 is within the realm of possibility.
Consider stop-loss settings accordingly.

And also a ‘Northern Doji’ chart pattern is discovered. The chart forms ‘Northern Doji’. which is a bullish 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’ going up is 52% (Bull Market) & 51% (Bear Market).

205.985 – 205.605 – 205.706 – 204.995 – 204.284 – 204.372 —
205.95200 – 205.59400 —
51.136707544221 – 48.185703693281 —
– —
205.98500 – 1764102600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double top retreat up – – – – – – – –