GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
A bullish ascent up to the next resistance level at 193.72400 is expected.
Caution: A possible counter-trend in the direction of the support line at 190.68000 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three White Soldiers’ candlestick pattern is found. The chart shows ‘Three White Soldiers’. this 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 | 194.80200 |
| 2nd High | 194.62100 |
| Next High | 193.72400 |
| Current Price | 192.20600 |
| Next Low | 190.68000 |
| 2nd Low | 190.40600 |
| 3rd Low | 189.84600 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers