GBP/JPY – 4H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
An ascending movement up to the next resistance at 194.99000 is expected.
Caution: A possible counter-trend in the direction of the support zone at 190.59400 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ candlestick pattern is discovered. The chart forms ‘Three White Soldiers’. which is a bullish chart scenario. The currency pair is likely to rise. 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 | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 194.99000 |
| Current Price | 195.60600 |
| Next Low | 190.59400 |
| 2nd Low | 188.07200 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers