GBP/JPY – 1H – BUY

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

A bullish trend upwards to the next resistance line at 215.414 is likely expected.

Caution: A possible reversal of the trend in the direction of the support level at 214.592 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart signal. The pair is likely to go up.

Next a ‘MACD crosses above signal’ indicator signal is detected. The indicator is ‘MACD crosses above signal’. which could be a positive chart signal. The pair is likely to go up.

Next a ‘StochRSI Hidden Bullish Divergence’ indicator signal is detected. The indicator is ‘StochRSI Hidden Bullish Divergence’. which could be a positive chart signal. The pair is likely to go up.

Next a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. this is usually a bullish chart scenario. The pair is likely to go up.

Next a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

215.414 – 215.084 – 215.687 – 214.592 – 213.997 – 215.153 —
215.35400 – 215.36300 —
61.18030907729 – 48.318608723435 —
– —
215.414 – 1776794400

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