GBP/JPY – 1H – BUY

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

A continuation of the uptrend up to the next resistance line at 211.437 is expected.

Caution: A possible change in the direction of support at 210.251 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which could be a positive 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 expected. Target of the current trend is 211.501 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the resistance level at 211.437 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Bearish Harami Cross’ chart pattern is found. The candles form ‘Bearish Harami Cross’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami Cross’ going down is 57% (Bull Market) & 56% (Bear Market).

211.437 – 211.093 – 211.501 – 210.251 – 210.42 – 210.429 —
210.97700 – 211.22000 —
40.697080641353 – 55.002246985771 —
– —
211.43700 – 1767340800

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami Cross – Double top chart pattern – – – – – – – –