GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at 192.20900 will continue.
Caution: A possible counter-trend in the direction of the support line at 190.33800 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Three White Soldiers’ chart pattern is existing. The candles show ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 192.20900 |
| Current Price | 192.18400 |
| Next Low | 190.33800 |
| 2nd Low | 188.07200 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers