GBP/JPY – 30M – BUY

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

A bullish ascent upwards to the next resistance level at 214.998 is likely expected.

Caution: A possible counter-trend in the direction of the support level at 214.557 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bullish Engulfing’ candle chart pattern is found. The chart shows ‘Bullish Engulfing’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.

214.998 – 214.934 – 214.859 – 214.557 – 213.863 – 214.324 —
214.88300 – 215.00200 —
51.509965099781 – 56.397544482641 —
– —
214.998 – 1781249400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing – – – – – – – – –