GBP/JPY – 1H – BUY

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

A continuation of the bullish trend up to the next resistance at 207.29 is likely expected.

Caution: A possible reversal of the trend in the direction of the support level at 206.584 is within the realm of possibility.
Consider stop-loss settings accordingly.

Then a ‘%K crosses above %D’ indicator signal is existing. The indicator is ‘%K crosses above %D’. this is usually a bullish signal. The pair is likely to go up.

Then a ‘Northern Doji’ chart pattern is existing. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. 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).

207.29 – 207.355 – 206.248 – 206.584 – 206.181 – 206.344 —
207.22700 – 207.57900 —
60.638372342693 – 62.707483362127 —
– —
207.29000 – 1764954000

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