GBP/JPY – 1H – BUY

The combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards

A bullish trend upwards to the next resistance at 212.867 is considered certain.

Caution: A possible reversal of the trend in the direction of the support zone at 209.176 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

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

212.867 – 213.299 – 212.177 – 211.973 – 211.589 – 209.176 —
211.50800 – 211.41500 —
35.13940426391 – 37.625747188029 —
– —
212.867 – 1773349200

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – – – – – – – – –