GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance line at 197.71300 is certain.
Caution: A possible change in the direction of the support line at 196.85200 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three White Soldiers’ candle chart pattern is existing. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency 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 | 198.05200 |
| 2nd High | 197.82200 |
| Next High | 197.71300 |
| Current Price | 197.68500 |
| Next Low | 196.85200 |
| 2nd Low | 196.73500 |
| 3rd Low | 196.48700 |