GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the ascending trendline upwards
A continuation of the bullish trend upwards to the next resistance line at 198.94500 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 196.31000 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three White Soldiers’ candlestick chart pattern is detected. The chart shows ‘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 success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94500 |
| Current Price | 197.01400 |
| Next Low | 196.31000 |
| 2nd Low | 195.74500 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers