GBP/JPY – 4H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline upwards
A continuation of the bullish trend up to the next resistance at 198.94500 is expected.
Caution: A possible change in the direction of the support level at 194.05400 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Line Strike – Bullish’ candlestick chart pattern is existing. The candles show ‘Three Line Strike – Bullish’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 198.94500 |
| Current Price | 198.08200 |
| Next Low | 194.05400 |
| 2nd Low | 192.85100 |
| 3rd Low | 190.59400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Line Strike – Bullish