GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance at 194.31300 is considered certain.
Caution: A possible counter-trend in the direction of the support zone at 192.84600 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ candle pattern is existing. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. 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 | 196.41700 |
| 2nd High | 194.80200 |
| Next High | 194.31300 |
| Current Price | 194.27800 |
| Next Low | 192.84600 |
| 2nd Low | 191.73000 |
| 3rd Low | 190.40600 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers