GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance line at 191.52300 is certain.
Caution: A possible change in the direction of the support level at 188.07200 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle chart pattern is existing. The candles show ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 191.52300 |
| Current Price | 192.03800 |
| Next Low | 188.07200 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers