GBP/JPY – 30M – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance line at 213.11500 is considered certain.
Caution: A possible reversal of the trend in the direction of the support line at 212.393 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ candlestick chart pattern is found. The candles form ‘Northern Doji’. this 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 success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 214.218 |
| Next High | 213.11500 |
| Current Price | 212.97000 |
| Next Low | 212.393 |
| 2nd Low | 212.267 |
| 3rd Low | 210.758 |
213.11500 – 212.729 – 212.767 – 212.393 – 212.267 – 210.758 —
213.11500 – 213.07900 —
65.756445510442 – 55.018938622821 —
213.11500 – 1778158800 —
– 1778158800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Northern Doji – Symmetrical Triangle Chart Pattern – – – – – – – –