GBP/JPY – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 198.565104 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 198.45500 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ candlestick pattern is existing. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.70900 |
| 2nd High | 199.55300 |
| Next High | 198.45500 |
| Current Price | 197.75500 |
| Next Low | 196.73500 |
| 2nd Low | 196.48700 |
| 3rd Low | 195.36700 |