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

GBPJPY M5

Triple Top
The Triple Top pattern has formed on the chart of the GBPJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 141.75/141.86 with the upper limit 141.89/141.89; the projection of the width is 14 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 141.75, the price is most likely to continue the downward movement.
2021-01-26

GBPJPY M5

Double Bottom
The Double Bottom pattern has been formed on GBPJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 141.84 is broken. The further movements will rely on the width of the current pattern 10 points.
2021-01-25

GBPJPY H1

Triple Top
The Triple Top pattern has formed on the chart of the GBPJPY H1 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -1, support level -9, and pattern’s width 38. Forecast If the price breaks through the support level 141.78, it is likely to move further down to 141.78.
2021-01-22

GBPJPY M30

Triple Top
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 1, support level -19, and pattern’s width 31. Forecast If the price breaks through the support level 141.87, it is likely to move further down to 141.86.
2021-01-22

GBPJPY M30

Triple Top
On the chart of the GBPJPY M30 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 141.78, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 38 points.
2021-01-21

GBPJPY M5

Bullish Rectangle
According to the chart of M5, GBPJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 142.01 – 142.01 and upper border 142.18 – 142.18. In case the upper border is broken, the instrument is likely to follow the upward trend.
2021-01-21

GBPJPY M5

Double Top
On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 142.17; the lower boundary 142.02; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 141.87 level.
2021-01-21

GBPJPY M15

Bullish Symmetrical Triangle
According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 140.93/141.48 whereas the upper border goes across 142.29/141.48. 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 141.71.
2021-01-21

GBPJPY H1

Double Top
The Double Top reversal pattern has been formed on GBPJPY H1. Characteristics: the upper boundary 142.20; the lower boundary 140.33; the width of the pattern is 196 points. Sell trades are better to be opened below the lower boundary 140.33 with a possible movements towards the 139.93 level.
2021-01-20

GBPJPY M5

Triple Top
The Triple Top pattern has formed on the chart of the GBPJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 141.40/141.42 with the upper limit 141.54/141.51; the projection of the width is 14 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 141.40, the price is most likely to continue the downward movement.
2021-01-19