GBP/JPY – 30M – BUYBesides a ‘%K crosses above %D’ indicator layout is found. The indicator shows ‘%K crosses above %D’. this is usually a bullish chart scenario. The currency pair could go up.
Besides a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which could be a positive signal. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 206.245952 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 206.042 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Tri-Star’ candlestick chart pattern is detected. The chart forms ‘Bullish Tri-Star’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Tri-Star’ heading up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 206.852 |
| Next High | 206.042 |
| Current Price | 205.69000 |
| Next Low | 204.284 |
| 2nd Low | 203.975 |
| 3rd Low | 203.883 |
205.32 – 206.042 – 206.852 – 204.284 – 204.372 – 205.575 —
205.65500 – 205.61200 —
59.034705552374 – 54.579836287535 —
– —
205.32000 – 1763742600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Tri-Star – – – – – – – – –