GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance line at 193.40600 is considered certain.
Caution: A possible trend reversal in the direction of the support zone at 190.59400 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ chart pattern is found. The chart shows ‘Three White Soldiers’. this is a bullish chart scenario. 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 | 194.62100 |
| 2nd High | 193.72400 |
| Next High | 193.40600 |
| Current Price | 193.06500 |
| Next Low | 190.59400 |
| 2nd Low | 190.33800 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers