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

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 192.28; the lower boundary 192.19; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 192.19 with a possible movements towards the 192.04 level.

The Triple Top pattern has formed on the chart of the GBPJPY H1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 191.62/191.98 with the upper limit 192.68/192.81; the projection of the width is 106 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 191.62, the price is most likely to continue the downward movement.

On the chart of GBPJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 192.81; the lower boundary 192.54; the width of the pattern 27 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 192.32 level.

On the chart of the GBPJPY M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 192.41, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 31 points.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 192.78 and 191.80 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 98 pips. Outlook: If the upper border 192.78 is broken, the price is likely to continue its move by 192.48.

The Triple Bottom pattern has formed on the chart of the GBPJPY M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 192.32/191.93.

The Triple Bottom pattern has formed on the chart of the GBPJPY M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 192.32/191.93.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 191.94; the lower boundary 191.80; the width of the pattern 14 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 191.65 level.

According to the chart of M15, GBPJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 189.96 – 189.96 and upper border 190.75 – 190.75. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Triple Bottom pattern has been formed on GBPJPY M5. It has the following characteristics: resistance level 190.74/190.28; support level 189.97/190.00; the width is 77 points. In the event of a breakdown of the resistance level of 190.74, the price is likely to continue an upward movement at least to 190.11.