GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at 194.45500 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 193.62500 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart forms ‘Three White Soldiers’. which 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 | 197.78100 |
| 2nd High | 194.99000 |
| Next High | 194.45500 |
| Current Price | 195.06000 |
| Next Low | 193.62500 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers