GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline down.
A descent downwards to the next support line at 197.20500 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 198.94500 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three White Soldiers’ candlestick pattern is detected. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.55300 |
| Next High | 198.94500 |
| Current Price | 198.08200 |
| Next Low | 197.20500 |
| 2nd Low | 196.59900 |
| 3rd Low | 196.43900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers