GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline up.
An ascending movement upwards to the next resistance level at 191.49700 is certain.
Caution: A possible reversal of the trend in the direction of the support zone at 190.33800 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.29800 |
| 2nd High | 191.52300 |
| Next High | 191.49700 |
| Current Price | 192.03800 |
| Next Low | 190.33800 |
| 2nd Low | 189.35000 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers