GBP/JPY – 1H – BUY

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

The bullish trend upwards to the next resistance level at 209.207 is expected.

Caution: A possible counter-trend in the direction of the support zone at 207.227 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘StochRSI %K crosses above 0.2’ indicator layout is found. The indicator is ‘StochRSI %K crosses above 0.2’. which is often a bullish chart scenario. The pair is likely to go up.

There is also a ‘Bullish Belt Hold’ candlestick pattern is found. The candles form ‘Bullish Belt Hold’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).

209.207 – 209.476 – 209.678 – 207.227 – 208.039 – 207.551 —
209.19400 – 208.91200 —
70.985878781051 – 54.106200170723 —
– —
209.207 – 1771434000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Belt Hold – Double bottom chart pattern – – – – – – – –