GBP/JPY – 1H – SELLCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 213.40144 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 213.115 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Bullish Tri-Star’ chart pattern is detected. The chart shows ‘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 | 216.592 |
| 2nd High | 214.218 |
| Next High | 213.115 |
| Current Price | 212.53700 |
| Next Low | 212.267 |
| 2nd Low | 210.758 |
| 3rd Low | 210.44 |
213.115 – 214.218 – 214.065 – 212.267 – 210.758 – 211.938 —
213.07900 – 212.83200 —
53.969787308228 – 44.727468493782 —
– —
213.115 – 1778158800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Tri-Star – Symmetrical Triangle Chart Pattern – – – – – – – –