As can be seen from this trade opportunity alert, GBP/JPY is currently rising toward the 4-hour Key Resistance Level 154.127 (type Approach) identified by Autochartist. The price is set to reach this Key Level in 7 trading days. Autochartist set the stop-level for this forecast 152.2067 (the support level which ended recent downward 4-hour correction). This bullish forecast is aligned with the prevailing uptrend that can be seen on the daily and the weekly GBP/JPY charts, which adds to the likelihood the pair will rise to 154.127 in the next 7 days.

Forex Update

As you can see from the following Key Levels chart, the Significance of this Key Level is rated by Autochartist at the 4 bar level which reflects 4 recent price reversals form this resistance. The above-average length of this Key Level (208 candles) increases its visibility to forex traders and heightens the probability GBP/JPY will soon reach 154.127.

Forex Update