GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 193.14400 will persist.
Caution: A possible counter-trend in the direction of the support level at 192.44600 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish SBS White Lines’ candlestick pattern is existing. The candles show ‘Bearish SBS White Lines’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.72400 |
| 2nd High | 193.40600 |
| Next High | 193.14400 |
| Current Price | 193.92500 |
| Next Low | 192.44600 |
| 2nd Low | 190.59400 |
| 3rd Low | 190.33800 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines