As you can see from the following trade opportunity alert for GBP/JPY, this currency pair is currently rising toward the Key resistance Level 154.127 (type Approach) identified by Autochartist on the 4-hour charts. The pair is expected to reach this target level in 7 trading days. The stop-level for this forecast is set by Autochartist at 152.2067 (the level where the latest downward correction ended). This forecast is aligned with the predominant uptrend visible on the daily and the weekly charts, which increases the probability the pair will reach the target level 154.127 in 7 trading days.
GBP/JPY" title="GBP/JPY" width="609" height="375">
As can be seen from the Key Levels chart below, Autochartist rates the Significance of this resistance at the 4 bar level which corresponds to 4 recent price reversals form this Key Level. The above-average length of this Key Level (208 candles) increases its visibility to market participants and heightens the chances the above forecast will soon be realized.
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