GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at will continue.
Caution: A possible change in the direction of support at 213.567 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three White Soldiers’ candlestick pattern is found. The chart forms ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 215.76700 |
| Next Low | 213.567 |
| 2nd Low | 212.301 |
| 3rd Low | 210.314 |
215.367 – 214.578 – 213.845 – 213.567 – 212.301 – 210.314 —
215.06700 – 215.54000 —
57.163340010516 – 69.660384512218 —
– —
215.367 – 1776128400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers – – – – – – – – –