GBP/JPY – 1H – BUYThe currency pair breaks through the descending trendline upwards
The bullish trend up to the next resistance at 198.36900 is certain.
Caution: A possible trend reversal in the direction of the support level at 195.36700 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.70900 |
| Next High | 198.36900 |
| Current Price | 197.28600 |
| Next Low | 195.36700 |
| 2nd Low | 195.09600 |
| 3rd Low | 194.56000 |