GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance line at 194.10300 is expected.
Caution: A possible counter-trend in the direction of the support level at 192.51300 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle pattern is existing. The candles form ‘Three White Soldiers’. which is a positive 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 194.80200 |
| 2nd High | 194.62100 |
| Next High | 194.10300 |
| Current Price | 194.41900 |
| Next Low | 192.51300 |
| 2nd Low | 192.44600 |
| 3rd Low | 190.59400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers