GBP/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 195.895 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 195.76500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three White Soldiers’ chart pattern is found. 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 likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 197.78100 |
| 2nd High | 195.89500 |
| Next High | 195.76500 |
| Current Price | 195.45000 |
| Next Low | 194.69900 |
| 2nd Low | 194.64900 |
| 3rd Low | 193.62500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers