GBP/JPY – 30M – BUY

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

An ascending movement up to the next resistance line at 212.822 is likely expected.

Caution: A possible change in the direction of the support line at 211.489 is within the realm of possibility.
Consider stop-loss settings accordingly.

Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish signal. The pair is likely to go up.

Then a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a positive chart signal. The currency pair could go up.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 212.226224 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of resistance at 212.822 is within the realm of possibility.
Consider stop-loss settings accordingly.

Then a ‘Three Outside Up’ candle pattern is found. The chart forms ‘Three Outside Up’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

212.822 – 212.465 – 212.157 – 211.489 – 210.038 – 211.321 —
212.31000 – 211.61900 —
52.505189422823 – 33.838855265304 —
– —
212.82200 – 1769992200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – Head and Shoulder chart pattern – – – – – – – –