GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 193.14400 is expected.
Caution: A possible change in the direction of the support level at 192.44600 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Up’ candle chart pattern is detected. The candles form ‘Three Outside Up’. this is a bullish chart scenario. 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’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.72400 |
| 2nd High | 193.40600 |
| Next High | 193.14400 |
| Current Price | 193.55600 |
| Next Low | 192.44600 |
| 2nd Low | 190.59400 |
| 3rd Low | 190.33800 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up