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 189.13/189.44 whereas the upper border goes across 189.79/189.44. 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 189.59.

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 16, support level -45, and pattern’s width 105. Forecast If the price breaks through the support level 188.74, it is likely to move further down to 189.64.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 189.79; the lower boundary 188.74; the width of the pattern is 105 points. Sell trades are better to be opened below the lower boundary 188.74 with a possible movements towards the 188.59 level.

According to the chart of M15, GBPJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 185.46 - 0.00 and support 184.35 – 184.35. In case the resistance level 184.35 - 184.35 is broken, the instrument is likely to follow the bearish trend.

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 184.35 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on GBPJPY M15; the upper boundary is 185.46; the lower boundary is 184.35. The width of the pattern is 108 points. In case of a break of the upper boundary 185.46, 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 Bottom pattern has formed on the chart of GBPJPY M30. Features of the pattern: The lower line of the pattern has coordinates 187.12 with the upper limit 187.12/186.68, the projection of the width is 143 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 185.69, the price is most likely to continue the upward movement.

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 187.02 is broken. The further movements will rely on the width of the current pattern 51 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 187.62 is broken. The further movements will rely on the width of the current pattern 40 points.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 187.53; the resistance level 187.97; the width of the pattern 44 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 48 points.