GBP/JPY – 4H – BUY

The combination British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline up.

A continuation of the uptrend upwards to the next resistance line at 193.74200 will persist.

Caution: A possible change in the direction of the support level at 190.31400 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Current target is 193.742 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 193.74200 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three White Soldiers’ candle pattern is found. The candles form ‘Three White Soldiers’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.

Next a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a positive chart signal. The currency pair is likely to rise.

193.74200 – 191.71600 – 189.65200 – 190.31400 – 189.97500 – 187.46000

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers