GBP/JPY – 1H – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
The bullish trend up to the next resistance at 189.19900 is expected.
Caution: A possible change in the direction of support at 186.57400 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive chart signal. The currency pair could go up.
In addition a ‘Three Outside Up’ candlestick chart pattern is found. The candles form ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
In addition a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a positive chart signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 190.08600 |
| 2nd High | 189.82100 |
| Next High | 189.19900 |
| Current Price | 189.49600 |
| Next Low | 186.57400 |
| 2nd Low | 186.02000 |
| 3rd Low | 184.37000 |
189.19900 – 188.52000 – 189.82100 – 186.57400 – 186.02000 – 184.37000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Up