GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
A bullish trend upwards to the next resistance at 191.88400 is considered certain.
Caution: A possible change in the direction of the support zone at 190.68000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candle chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. 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 | 193.72400 |
| 2nd High | 192.61500 |
| Next High | 191.88400 |
| Current Price | 191.60500 |
| Next Low | 190.68000 |
| 2nd Low | 190.40600 |
| 3rd Low | 189.84600 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers