GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline upwards
The bullish trend up to the next resistance level at 197.99900 will persist.
Caution: A possible change in the direction of the support level at 197.01500 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Three White Soldiers’ candlestick pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94500 |
| Next High | 197.99900 |
| Current Price | 197.57300 |
| Next Low | 197.01500 |
| 2nd Low | 196.78300 |
| 3rd Low | 196.59900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers