GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline up.
A bullish movement up to the next resistance level at 212.866 will continue.
Caution: A possible trend reversal in the direction of support at 210.91400 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Outside Up’ candlestick pattern is detected. The candles show ‘Three Outside Up’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 213.299 |
| 2nd High | 212.867 |
| Next High | 212.866 |
| Current Price | 211.49200 |
| Next Low | 210.91400 |
| 2nd Low | |
| 3rd Low |
212.866 – 212.867 – 213.299 – 210.91400 – 211.088 – 212.393 —
211.28100 – 211.36400 —
37.629947301744 – 43.380503753073 —
210.91400 – 1773621000 —
212.866 – 1773387000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – – – – – – – – –