GBP/JPY – 30M – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance at 214.285 is expected.
Caution: A possible change in the direction of the support level at 213.48600 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick pattern is detected. The candles show ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 214.285 |
| Current Price | 213.56400 |
| Next Low | 213.48600 |
| 2nd Low | 212.663 |
| 3rd Low | 211.52 |
214.285 – 213.006 – 211.598 – 213.48600 – 212.663 – 211.52 —
213.65100 – 213.70500 —
45.255951036395 – 46.8512559404 —
213.48600 – 1768334400 —
214.28500 – 1768300200
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – – – – – – – – –