GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance line at 197.05700 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 196.43900 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.94500 |
| 2nd High | 197.06600 |
| Next High | 197.05700 |
| Current Price | 197.41300 |
| Next Low | 196.43900 |
| 2nd Low | 195.74500 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers