GBP/JPY – 1H – BUY

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

An ascending movement up to the next resistance line at 213.115 will continue.

Caution: A possible reversal of the trend in the direction of the support line at 212.267 could be enabled.
Consider stop-loss settings accordingly.

Moreover a ‘MACD crosses above signal’ indicator signal is existing. The indicator shows ‘MACD crosses above signal’. which could be a positive signal. The currency pair is likely to rise.

Moreover a ‘Three Outside Up’ candlestick pattern is detected. The candles show ‘Three Outside Up’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

213.115 – 214.218 – 214.065 – 212.267 – 210.758 – 211.938 —
212.83200 – 212.68900 —
44.727468671343 – 43.671204082123 —
– —
213.115 – 1778158800

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