FX.co ★ Patterns GBPJPY | British Pound (GBP) to Japanese Yen (JPY) Rate in the Forex market

The Double Top pattern has been formed on GBPJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 215.75 is broken, the downward movement will continue.

According to the chart of M30, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 215.44/215.62 whereas the upper border goes across 215.75/215.62. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPJPY will breach the upper border to head for 215.92.

The Triple Top pattern has formed on the chart of the GBPJPY M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 3, support level -10, and pattern’s width 31. Forecast If the price breaks through the support level 215.44, it is likely to move further down to 215.41.

The Triple Top pattern has formed on the chart of the GBPJPY M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 215.44/215.51 with the upper limit 215.75/215.71; the projection of the width is 31 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 215.44, the price is most likely to continue the downward movement.

The Bullish Flag pattern has been formed on GBPJPY at M5. The lower boundary of the pattern is located at 215.63/215.63, while the higher boundary lies at 215.69/215.69. The projection of the flagpole is 7 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 215.69 is broken, the price will move further upwards.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 215.42; the lower boundary 215.22; the width of the pattern is 21 points. Sell trades are better to be opened below the lower boundary 215.22 with a possible movements towards the 215.07 level.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 214.91 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 215.07; the resistance level 215.18; the width of the pattern 11 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 12 points.

The Triple Bottom pattern has formed on the chart of the GBPJPY M30 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 215.22/215.16.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 214.97; the lower boundary 214.88; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 214.88 with a possible movements towards the 214.73 level.