GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance at 197.71300 is certain.
Caution: A possible change in the direction of the support level at 196.85200 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three White Soldiers’ candlestick chart pattern is found. The chart shows ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 197.82200 |
| Next High | 197.71300 |
| Current Price | 197.52200 |
| Next Low | 196.85200 |
| 2nd Low | 196.73500 |
| 3rd Low | 196.48700 |