GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline upwards
A continuation of the upward movement upwards to the next resistance at 211.75 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 210.502 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Northern Doji’ chart pattern is detected. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 212.146 |
| Next High | 211.75 |
| Current Price | 210.74700 |
| Next Low | 210.502 |
| 2nd Low | 210.251 |
| 3rd Low | 210.038 |
211.75 – 212.146 – 211.437 – 210.502 – 210.251 – 210.42 —
211.13900 – 210.64800 —
44.559339080369 – 37.518021936201 —
– —
211.75000 – 1767758400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double top chart pattern – – – – – – – –