Bullish GBPJPY - 23 October 2024

EURUSD Forex

GBPJPY

Bullish Closed

Charts by TradingView

A Price Action Ascending Triangle pattern formation on the 4 Hour time frame chart supports GBPJPY Bullish bias. A break of 196.100 will support the rise towards the target of 197.540 the break of 197.540 would push the price to 198.500.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 197.413
Support S1: 197.396, S2: 197.383 , S3: 197.366
Resistance R1: 197.426 , R2: 197.443 , R3: 197.456

Summary

Instrument :

GBPJPY

Direction :

Bullish

Pattern Name :

Ascending Triangle

Probability :

64%

Entry Level :

196.100

Activation Time :

2024-10-22 05:00

Age :

7 Bars

Progress :

100%

Close Time :

2024-10-23 05:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

MEMBERS ONLY

Ascending Triangle

An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trend line to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns.