GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance at 195.47000 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 194.64900 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Outside Up’ candlestick pattern is found. The candles form ‘Three Outside Up’. which is a positive pattern signal. The 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’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.89500 |
| 2nd High | 195.79200 |
| Next High | 195.47000 |
| Current Price | 195.31200 |
| Next Low | 194.64900 |
| 2nd Low | 193.82700 |
| 3rd Low | 193.62500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up