GBP/JPY – 1H – BUY

The pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards

The bullish trend upwards to the next resistance line at 209.207 is likely expected.

Caution: A possible change in the direction of the support level at 207.227 should be noted.
Consider stop-loss settings accordingly.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 209.099564 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance zone at 209.207 should be noted.
Consider stop-loss settings accordingly.

Additionally a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. 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’ heading up is 82%.

209.207 – 209.476 – 209.678 – 207.227 – 208.039 – 207.551 —
209.45700 – 208.42500 —
68.071192517273 – 40.818034308576 —
– —
209.207 – 1771434000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers – – – – – – – – –