GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline upwards
A bullish ascent upwards to the next resistance line at 193.72400 is likely expected.
Caution: A possible counter-trend in the direction of support at 190.40600 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ chart pattern is detected. 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 probability of ‘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 | 191.62200 |
| Next Low | 190.40600 |
| 2nd Low | 189.84600 |
| 3rd Low | 189.56100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers