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 M5. Characteristics: the upper boundary 212.34; the lower boundary 212.19; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 212.19 with a possible movements towards the 212.04 level.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 214.98 and support 214.79. In case the resistance level 214.98 - 214.98 is broken, the instrument is likely to follow the bullish trend.

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 0, support level -6, and pattern’s width 18. Forecast If the price breaks through the support level 214.79, it is likely to move further down to 214.83.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 214.97; the lower boundary 214.79; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 214.79 with a possible movements towards the 214.64 level.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 214.09; the lower boundary 213.97; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 213.82 level.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 213.42, the lower border is 213.25. The signal means that a long position should be opened above the upper border 213.42 of the Bullish Rectangle.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 213.43; the lower boundary 212.83; the width of the pattern is 59 points. Sell trades are better to be opened below the lower boundary 212.83 with a possible movements towards the 212.60 level.

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 212.60 – 212.60 and upper border 212.77 – 212.77. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 -4, support level -7, and pattern’s width 20. Forecast If the price breaks through the support level 212.42, it is likely to move further down to 212.47.

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 212.42 is broken, the downward movement will continue.