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

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 217.61/217.78 whereas the upper border goes across 217.92/217.78. 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 217.93.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 217.77; the lower boundary is 217.68. The width of the pattern is 10 points. In case of a break of the upper boundary 217.77, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Triple Top pattern has formed on the chart of the GBPJPY M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -27, and pattern’s width 38. Forecast If the price breaks through the support level 218.07, it is likely to move further down to 218.26.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 218.47; the lower boundary 218.34; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 218.19 level.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 218.35/218.41 whereas the upper border goes across 218.49/218.41. 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 218.56.

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 218.12/218.37 with the upper limit 218.30/218.44; the projection of the width is 18 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 218.12, the price is most likely to continue the downward movement.

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 218.37 is broken, the downward movement will continue.

On the chart of the GBPJPY M15 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 218.12, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 28 points.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 218.37; the lower boundary 218.30; the width of the pattern is 6 points. Sell trades are better to be opened below the lower boundary 218.30 with a possible movements towards the 218.07 level.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 218.09/218.27 whereas the upper border goes across 218.40/218.27. 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 218.42.