GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline up.
An ascending movement up to the next resistance level at 195.47000 is considered certain.
Caution: A possible trend reversal in the direction of support at 194.69900 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish SBS White Lines’ candlestick pattern is existing. The candles show ‘Bearish SBS White Lines’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.89500 |
| 2nd High | 195.79200 |
| Next High | 195.47000 |
| Current Price | 195.30100 |
| Next Low | 194.69900 |
| 2nd Low | 194.64900 |
| 3rd Low | 193.82700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines