GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance at 198.94500 is likely expected.
Caution: A possible change in the direction of support at 195.78100 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish SBS White Lines’ candle chart pattern is discovered. The candles show ‘Bearish SBS White Lines’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94500 |
| Current Price | 196.21700 |
| Next Low | 195.78100 |
| 2nd Low | 194.05400 |
| 3rd Low | 193.82700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines