GBP/JPY – 30M – BUY

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

A continuation of the uptrend upwards to the next resistance at 217.827 is likely expected.

Caution: A possible counter-trend in the direction of the support level at 216.513 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. which is a bullish 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 ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

217.827 – 217.207 – 217.152 – 216.513 – 216.338 – 216.366 —
217.69400 – 217.68900 —
62.417634705435 – 56.933008418873 —
– —
217.827 – 1783542600

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