GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance level at 195.89500 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 194.64900 could happen.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ chart pattern is found. The candles show ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 195.89500 |
| Current Price | 195.34600 |
| Next Low | 194.64900 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers