GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) breaks through the descending trendline up.
An ascending movement upwards to the next resistance level at 213.617 will continue.
Caution: A possible reversal of the trend in the direction of the support zone at 211.938 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ candle pattern is found. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 216.592 |
| 2nd High | 214.039 |
| Next High | 213.617 |
| Current Price | 212.85800 |
| Next Low | 211.938 |
| 2nd Low | 211.801 |
| 3rd Low | 210.44 |
213.617 – 214.039 – 216.592 – 211.938 – 211.801 – 210.44 —
212.73900 – 212.65300 —
46.391678542812 – 45.312429588491 —
– —
213.617 – 1777874400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three White Soldiers – Symmetrical Triangle Chart Pattern – – – – – – – –