GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline upwards
A bullish movement up to the next resistance level at 198.94600 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at 195.74500 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three White Soldiers’ candle chart pattern is found. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. 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 | 198.94600 |
| Current Price | 196.63900 |
| Next Low | 195.74500 |
| 2nd Low | 194.05400 |
| 3rd Low | 193.82700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers