GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline upwards
A continuation of the upward movement up to the next resistance line at 197.05700 is likely expected.
Caution: A possible counter-trend in the direction of the support line at 196.43900 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three White Soldiers’ candlestick chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.94500 |
| 2nd High | 197.06600 |
| Next High | 197.05700 |
| Current Price | 196.85900 |
| Next Low | 196.43900 |
| 2nd Low | 195.74500 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers