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 M30. Characteristics: the upper boundary 215.75; the lower boundary 215.31; the width of the pattern is 45 points. Sell trades are better to be opened below the lower boundary 215.31 with a possible movements towards the 215.01 level.

The Double Top reversal pattern has been formed on GBPJPY H1. Characteristics: the upper boundary 215.75; the lower boundary 215.31; the width of the pattern is 45 points. Sell trades are better to be opened below the lower boundary 215.31 with a possible movements towards the 214.91 level.

The Triple Bottom pattern has been formed on GBPJPY M5. It has the following characteristics: resistance level 215.68/215.53; support level 215.43/215.42; the width is 25 points. In the event of a breakdown of the resistance level of 215.68, the price is likely to continue an upward movement at least to 215.56.

The Bearish pennant pattern has formed on the GBPJPY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 213.59; the projection of the flagpole height is equal to 94 pips. In case the price breaks out the pattern’s bottom of 213.59, the downtrend is expected to continue for further level 213.44.

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 4, support level -17, and pattern’s width 41. Forecast If the price breaks through the support level 213.35, it is likely to move further down to 213.52.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 213.20; the lower boundary 213.04; the width of the pattern 16 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 212.89 level.

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 212.74; the lower boundary 212.11; the width of the pattern 63 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 211.81 level.

According to the chart of M30, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 211.17/211.35 whereas the upper border goes across 211.51/211.35. 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 211.65.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 210.99/211.14 and upper border is 211.34/211.14. The pattern width is measured on the chart at -35 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPJPY breaches the lower border, the price could continue its move toward 210.99.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 209.86/210.16 and upper border is 210.50/210.16. The pattern width is measured on the chart at -64 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPJPY breaches the lower border, the price could continue its move toward 210.01.