GBP/JPY – 30M – BUYThere is also a ‘Falling Wedge Chart Pattern’ chart pattern is discovered. The chart forms ‘Falling Wedge Chart Pattern’. which is a bullish pattern signal. The currency pair is likely to rise.
The pair British Pound/Japanese Yen (GBP/JPY) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance level at 196.03400 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 194.01200 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Bullish Belt Hold’ candle pattern is existing. The chart forms ‘Bullish Belt Hold’. 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 chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 196.84100 |
| Next High | 196.03400 |
| Current Price | 196.05800 |
| Next Low | 194.01200 |
| 2nd Low | 193.75600 |
| 3rd Low | 193.25500 |
196.03400 – 195.95100 – 195.32900 – 194.01200 – 194.33200 – 194.77200
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Belt Hold