GBP/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Target of the current trend is 195.895 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 195.89500 should always be considered.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ candlestick chart pattern is detected. The candles show ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 197.78100 |
| 2nd High | 196.41700 |
| Next High | 195.89500 |
| Current Price | 195.68500 |
| Next Low | 193.82700 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up