FX.co ★ GBPJPY M5: Bullish Rectangle

GBPJPY M5: Bullish Rectangle

Bullish RectangleAccording to the chart of M5, GBPJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 163.34 and support 162.87. In case the resistance level 163.34 - 163.34 is broken, the instrument is likely to follow the bullish trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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