GBP/JPY – 1H – BUY

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

An ascending movement up to the next resistance level at 194.45500 will persist.

Caution: A possible counter-trend in the direction of the support level at 192.85100 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Target of the current trend is 194.389616 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 194.45500 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Moreover a ‘Three White Soldiers’ candlestick pattern is detected. The candles form ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers