GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 207.29 will continue.
Caution: A possible change in the direction of the support zone at 206.584 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candlestick chart pattern is detected. 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’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 207.355 |
| Next High | 207.29 |
| Current Price | 208.25800 |
| Next Low | 206.584 |
| 2nd Low | 206.181 |
| 3rd Low | 205.473 |
207.29 – 207.355 – 206.248 – 206.584 – 206.181 – 206.344 —
207.78200 – 208.43200 —
59.586816879198 – 60.992287385226 —
– —
207.29000 – 1764954000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – – – – – – – –