GBP/JPY – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 195.862 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 196.01100 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three White Soldiers’ chart pattern is existing. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.19200 |
| 2nd High | 197.53900 |
| Next High | 196.01100 |
| Current Price | 194.73500 |
| Next Low | 193.47200 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers