GBP/JPY – 1H – BUYThe pair moves from the ascending trendline upwards
A continuation of the upward movement up to the next resistance line at 199.34700 will persist.
Caution: A possible change in the direction of the support zone at 197.79800 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 199.34700 |
| Current Price | 198.66800 |
| Next Low | 197.79800 |
| 2nd Low | 196.39600 |
| 3rd Low | 195.09600 |