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According to the chart of M30, GBPJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 162.35 while the median line of the Neck is found at 161.23/162.07. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of GBPJPY will go towards 162.65 FX.co ★ GBPJPY M30: Inverse Head and Shoulder
Signal strength 3 of 5
GBPJPY M30: Inverse Head and Shoulder
According to the chart of M30, GBPJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 162.35 while the median line of the Neck is found at 161.23/162.07. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of GBPJPY will go towards 162.65 *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade