GBP/JPY – 4H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 200.264 is certain.
Caution: A possible change in the direction of the support level at 198.786 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a positive chart scenario. The currency pair is likely to rise.
Besides a ‘Three Outside Up’ candle pattern is detected. The candles form ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 200.264 |
| Current Price | 200.55200 |
| Next Low | 198.786 |
| 2nd Low | 198.669 |
| 3rd Low | 198.271 |
199.183 – 199.531 – 200.264 – 198.786 – 198.669 – 198.271 — 60.751144394089 – 67.115019268869 — 52.634450846866 – 70.844246551423 – 64.337785926314 – 61.197689307956
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – Rising Wedge Chart Pattern – –