GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline upwards

The bullish trend upwards to the next resistance at 194.62100 is expected.

Caution: A possible reversal of the trend in the direction of the support line at 192.52800 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 193.665 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 194.62100 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three White Soldiers’ candle pattern is existing. The chart forms ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.

Download GBP/JPY Signal Image

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