GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards

An ascending movement up to the next resistance at 192.61500 will persist.

Caution: A possible reversal of the trend in the direction of the support level at 191.59400 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Current target is 193.072584 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 192.61500 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three White Soldiers’ candlestick pattern is detected. The chart forms ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers