GBP/JPY – 30M – BUYThe combination British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 205.364 will persist.
Caution: A possible change in the direction of the support level at 204.578 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Above the Stomach’ chart pattern is discovered. The candles form ‘Above the Stomach’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Above the Stomach’ going up is 66% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 205.364 |
| Current Price | 204.94400 |
| Next Low | 204.578 |
| 2nd Low | 203.975 |
| 3rd Low | 203.883 |
205.364 – 204.737 – 204.293 – 204.578 – 203.975 – 203.883 —
204.87800 – 204.95100 —
52.546985600652 – 54.733898577324 —
– —
205.36400 – 1763571600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Above the Stomach – Double bottom chart pattern – – – –