GBP/JPY – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 210.889984 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 211.75 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candle chart pattern is discovered. The candles show ‘Northern Doji’. which is a bullish chart scenario. 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 | 212.146 |
| 2nd High | 212.075 |
| Next High | 211.75 |
| Current Price | 211.20500 |
| Next Low | 210.502 |
| 2nd Low | 210.338 |
| 3rd Low | 210.251 |
211.75 – 211.738 – 212.075 – 211.278 – 211.306 – 210.502 —
211.73000 – 211.26000 —
53.665990522287 – 31.58056555141 —
– —
211.75000 – 1767758400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – – – – – – – –