GBP/JPY – 1H – BUYCorrection 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 194.99 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance line at 197.78100 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three White Soldiers’ candlestick pattern is detected. The chart forms ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 198.43800 |
| Next High | 197.78100 |
| Current Price | 195.72900 |
| Next Low | 193.62500 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers