GBP/JPY – 30M – BUY

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

A bullish trend up to the next resistance line at 212.041 is considered certain.

Caution: A possible reversal of the trend in the direction of the support line at 210.648 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish chart scenario. The currency pair is likely to rise.

Next a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which is often a bullish signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 212.677948 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 212.041 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Northern Doji’ chart pattern is detected. The chart shows ‘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’ heading up is 52% (Bull Market) & 51% (Bear Market).

212.041 – 212.067 – 212.291 – 210.648 – 211.379 – 211.478 —
211.82100 – 211.93800 —
60.793555667119 – 62.139893773356 —
– —
212.04100 – 1768820400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Double bottom chart pattern – – – – – – – –