GBP/JPY – 1H – BUY

The combination British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline upwards

A continuation of the upward movement upwards to the next resistance line at 212.177 will persist.

Caution: A possible trend reversal in the direction of support at 211.589 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Bullish Tri-Star’ chart pattern is found. The chart shows ‘Bullish Tri-Star’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).

212.177 – 211.54 – 210.987 – 211.589 – 209.176 – 209.481 —
212.39200 – 212.09300 —
66.639324927218 – 54.499776289255 —
– —
212.177 – 1773093600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Tri-Star – – – – – – – – –