GBP/JPY – 30M – BUYCorrection of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Target of the current trend is 190.962716 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 191.33700 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ candlestick chart pattern is discovered. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ going up is 82%.
In addition a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a positive signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 191.81700 |
| 2nd High | 191.34200 |
| Next High | 191.33700 |
| Current Price | 191.18900 |
| Next Low | 190.44800 |
| 2nd Low | 190.33200 |
| 3rd Low | 189.97500 |
191.33700 – 191.34200 – 191.81700 – 190.44800 – 190.85000 – 191.54700
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers