GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline up.
The bullish trend up to the next resistance at 192.20900 is likely expected.
Caution: A possible change in the direction of the support level at 190.33800 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three White Soldiers’ chart pattern is detected. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. 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 | 192.20900 |
| Current Price | 190.99900 |
| Next Low | 190.33800 |
| 2nd Low | 188.07200 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers