GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline up.
A bullish trend upwards to the next resistance level at 213.617 is expected.
Caution: A possible change in the direction of the support level at 211.938 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candle chart pattern is existing. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 216.592 |
| 2nd High | 214.039 |
| Next High | 213.617 |
| Current Price | 213.59200 |
| Next Low | 211.938 |
| 2nd Low | 211.801 |
| 3rd Low | 210.44 |
213.617 – 214.039 – 216.592 – 211.938 – 211.801 – 210.44 —
212.72400 – 213.66500 —
45.781797625863 – 62.871225011775 —
– —
213.617 – 1777874400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers – – – – – – – – –