GBP/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 191.523 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 191.52300 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 191.52300 |
| Current Price | 191.20300 |
| Next Low | 188.07200 |
| 2nd Low | 186.68500 |
| 3rd Low | 185.81900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers