GBP/JPY – 30M – BUYThe pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.
A descent down to the next support line at 196.59900 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 198.94500 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three White Soldiers’ chart pattern is discovered. The chart shows ‘Three White Soldiers’. which is a bullish 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 | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94500 |
| Current Price | 197.41300 |
| Next Low | 196.59900 |
| 2nd Low | 196.43900 |
| 3rd Low | 196.31000 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers