GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards

An ascending movement upwards to the next resistance level at 207.014 is expected.

Caution: A possible reversal of the trend in the direction of the support level at 206.344 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Support Level’ indicator signal is discovered. The indicator is ‘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 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 206.952252 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 207.014 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Northern Doji’ candlestick chart pattern is existing. The candles form ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

207.014 – 207.355 – 207.335 – 206.471 – 206.344 – 206.871 —
206.78100 – 206.45100 —
51.125119963089 – 32.840885954215 —
– —
207.01400 – 1764867600

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