GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline up.
A continuation of the upward movement upwards to the next resistance line at 193.49300 is likely expected.
Caution: A possible change in the direction of the support zone at 192.34300 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candle chart pattern is found. The chart shows ‘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 success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.76700 |
| 2nd High | 193.74200 |
| Next High | 193.49300 |
| Current Price | 193.27100 |
| Next Low | 192.34300 |
| 2nd Low | 190.65700 |
| 3rd Low | 190.31400 |
193.49300 – 191.66300 – 191.26600 – 192.34300 – 190.65700 – 190.31400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers