GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance line at 205.985 is considered certain.
Caution: A possible change in the direction of support at 204.995 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bullish signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 206.852 |
| Next High | 205.985 |
| Current Price | 206.11200 |
| Next Low | 204.995 |
| 2nd Low | 204.284 |
| 3rd Low | 203.975 |
205.985 – 205.902 – 206.852 – 204.995 – 204.284 – 203.975 —
205.61800 – 206.14300 —
49.824942160006 – 64.061093012423 —
– —
205.98500 – 1764100800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – – Double bottom chart pattern – – – – – – – –