GBP/JPY – 1H – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline up.

A continuation of the bullish trend up to the next resistance at 214.999 is certain.

Caution: A possible trend reversal in the direction of the support level at 211.279 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 213.937346 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of resistance at 214.999 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Also there is a ‘Three Outside Up’ candlestick pattern is detected. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

214.999 – 212.822 – 212.157 – 213.673 – 211.279 – 211.489 —
213.95200 – 212.57000 —
50.675300268062 – 34.153593709257 —
– —
214.999 – 1770213600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – Symmetrical Triangle Chart Pattern – – – – – – – –