GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance level at 193.72400 will persist.
Caution: A possible counter-trend in the direction of support at 190.59400 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Target of the current trend is 192.365 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 193.72400 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 194.80200 |
| 2nd High | 194.62100 |
| Next High | 193.72400 |
| Current Price | 192.85000 |
| Next Low | 190.59400 |
| 2nd Low | 190.33800 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers