GBP/JPY – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 198.946 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance zone at 198.94600 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish SBS White Lines’ candlestick pattern is existing. The chart shows ‘Bearish SBS White Lines’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 198.94600 |
| Current Price | 197.35600 |
| Next Low | 194.18900 |
| 2nd Low | 194.05400 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines