GBP/JPY – 4H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance line at 194.99000 will persist.
Caution: A possible trend reversal in the direction of support at 192.85100 could happen.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ candle pattern is discovered. The candles show ‘Three White Soldiers’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 194.99000 |
| Current Price | 195.67100 |
| Next Low | 192.85100 |
| 2nd Low | 190.59400 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers