GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline up.
An ascent upwards to the next resistance line at 192.24500 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 190.68000 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish signal. The 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.72400 |
| 2nd High | 192.61500 |
| Next High | 192.24500 |
| Current Price | 192.13200 |
| Next Low | 190.68000 |
| 2nd Low | 190.40600 |
| 3rd Low | 189.84600 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers