Buy GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline up.

A bullish movement upwards to the next resistance line at 187.14800 will continue.

Caution: A possible counter-trend in the direction of the support level at 185.70900 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ‘Tweezers Bottom’ candle chart pattern is found. The candles form ‘Tweezers Bottom’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).

Next a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. which is often a bullish signal. The pair is likely to go up.

Support & Resistance Price Range*
3rd High 188.94100
2nd High 188.74900
Next High 187.14800
Current Price 186.39000
Next Low 185.70900
2nd Low
3rd Low

187.14800 – 188.74900 – 188.94100 – 185.70900 – 187.24100 – 187.88300

Download GBP/JPY Signal Image

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