GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline up.
The bullish trend up to the next resistance at 191.66300 will persist.
Caution: A possible change in the direction of the support line at 190.65700 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bullish Engulfing’ chart pattern is detected. The chart forms ‘Bullish Engulfing’. 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 ‘Bullish Engulfing’ heading up is 63%.
And also a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which could be a positive chart scenario. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.62900 |
| 2nd High | 191.81700 |
| Next High | 191.66300 |
| Current Price | 191.72200 |
| Next Low | 190.65700 |
| 2nd Low | 190.31400 |
| 3rd Low | 189.97500 |
191.66300 – 191.26600 – 191.33700 – 190.65700 – 190.31400 – 190.44800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing