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 M15. Characteristics: the upper boundary 214.13; the lower boundary 213.55; the width of the pattern is 60 points. Sell trades are better to be opened below the lower boundary 213.55 with a possible movements towards the 213.32 level.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 213.55; the resistance level 213.70; the width of the pattern 15 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 15 points.

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 213.67 is broken. The further movements will rely on the width of the current pattern 11 points.

The Double Top pattern has been formed on GBPJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 213.80 is broken, the downward movement will continue.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 213.84; the lower boundary 213.29; the width of the pattern 55 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 213.14 level.

The Double Top pattern has been formed on GBPJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 214.20 is broken, the downward movement will continue.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 214.35; the lower boundary 214.09; the width of the pattern 26 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 213.94 level.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 214.26; the lower boundary 214.01; the width of the pattern is 25 points. Sell trades are better to be opened below the lower boundary 214.01 with a possible movements towards the 213.79 level.

The Triple Top pattern has formed on the chart of the GBPJPY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 3, support level -32, and pattern’s width 49. Forecast If the price breaks through the support level 213.52, it is likely to move further down to 213.81.

According to the chart of M15, GBPJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 213.25/213.51 and upper border is 213.73/213.51. The pattern width is measured on the chart at -48 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 213.29.