GBP/JPY – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 198.252 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of resistance at 198.19200 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Bearish SBS White Lines’ candle pattern is found. The chart forms ‘Bearish SBS White Lines’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.94600 |
| 2nd High | 198.25200 |
| Next High | 198.19200 |
| Current Price | 197.48900 |
| Next Low | 196.86600 |
| 2nd Low | 195.84100 |
| 3rd Low | 194.63800 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines