GBP/JPY – 30M – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline up.
An ascent up to the next resistance level at 194.56000 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 193.62500 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three White Soldiers’ candlestick chart pattern is found. The candles form ‘Three White Soldiers’. which is a bullish chart scenario. The 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 196.41700 |
| 2nd High | 194.99000 |
| Next High | 194.56000 |
| Current Price | 194.61100 |
| Next Low | 193.62500 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers