GBP/JPY – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 191.305 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 191.24900 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ chart pattern is existing. The candles form ‘Three White Soldiers’. which 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 success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 191.24900 |
| Current Price | 191.03400 |
| Next Low | 190.14500 |
| 2nd Low | 189.84600 |
| 3rd Low | 189.56100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers