GBP/JPY – 4H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
A bullish trend up to the next resistance level at 194.99000 is certain.
Caution: A possible reversal of the trend in the direction of support at 192.85100 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 194.99000 |
| Current Price | 195.50300 |
| Next Low | 192.85100 |
| 2nd Low | 190.59400 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers