GBP/JPY – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 197.538 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 199.70900 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
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 | 199.70900 |
| Current Price | 196.58800 |
| Next Low | 195.36700 |
| 2nd Low | 195.09600 |
| 3rd Low | 195.08500 |