GBP/JPY – 4H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 217.207 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 214.628 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candlestick chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 217.207 |
| Current Price | 217.88100 |
| Next Low | 214.628 |
| 2nd Low | 212.532 |
| 3rd Low | 212.44 |
217.207 – 216.064 – 214.673 – 214.628 – 212.532 – 212.44 —
216.56500 – 217.74800 —
61.516054360212 – 73.351873687454 —
– —
217.207 – 1783382400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers – – – – – – – – –