GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline down.
A descent down to the next support level at 194.05400 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 198.43800 could occur.
Consider stop-loss settings accordingly.
And also a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish pattern 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’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.91900 |
| 2nd High | 198.45500 |
| Next High | 198.43800 |
| Current Price | 198.43100 |
| Next Low | 194.05400 |
| 2nd Low | 193.82700 |
| 3rd Low | 193.62500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers