FX.co ★ GBPJPY M5: Inverse Head and Shoulder

According to the chart of M5, GBPJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 212.58 while the median line of the Neck is set at 213.58/213.48. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPJPY will go towards 213.63.