GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance level at 197.78100 will persist.
Caution: A possible counter-trend in the direction of the support zone at 194.05400 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Current target is 195.792 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 197.78100 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ candle chart pattern is existing. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 198.43800 |
| Next High | 197.78100 |
| Current Price | 197.27500 |
| Next Low | 194.05400 |
| 2nd Low | 193.82700 |
| 3rd Low | 193.62500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers