GBP/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend will continue. Target of the current trend is 212.2265 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 211.751 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle pattern is existing. The candles show ‘Three White Soldiers’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 214.847 |
| Next High | 211.751 |
| Current Price | 211.12200 |
| Next Low | 209.784 |
| 2nd Low | 209.606 |
| 3rd Low | 207.929 |
211.751 – 214.847 – 212.757 – 209.784 – 209.606 – 211.583 —
210.99400 – 210.97900 —
47.762430683114 – 49.067005753309 —
– —
211.75100 – 1769504400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers – Double bottom retreat down – – – – – – – –