GBP/JPY – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 196.5675 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance level at 197.51500 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The pair is likely to go up. 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 | 199.55300 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 195.50600 |
| Next Low | 194.63800 |
| 2nd Low | 194.18900 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers