GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 213.104 will continue.
Caution: A possible trend reversal in the direction of the support level at 211.938 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ candle chart pattern is detected. The chart forms ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 213.649 |
| 2nd High | 213.617 |
| Next High | 213.104 |
| Current Price | 212.69800 |
| Next Low | 211.938 |
| 2nd Low | 211.771 |
| 3rd Low | 210.44 |
213.104 – 213.617 – 213.649 – 211.938 – 212.546 – 211.771 —
212.70900 – 212.64800 —
44.251193442586 – 45.159950546926 —
– —
213.104 – 1777915800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up – – – – – – – – –