GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance line at 192.20900 is expected.
Caution: A possible reversal of the trend in the direction of support at 190.33800 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ candlestick pattern is found. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘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 | 192.12600 |
| Next Low | 190.33800 |
| 2nd Low | 188.07200 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers