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

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 192.20 is broken, the downward movement will continue.

The Triple Bottom pattern has been formed on GBPJPY M5. It has the following characteristics: resistance level 192.14/192.08;support level 191.95/191.98; the width is 19 points. In the event of a breakdown of the resistance level of 192.14, the price is likely to continue an upward movement at least to 192.09.

According to the chart of M5, GBPJPY formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 192.47, the lower border is 192.03. The signal means that a short position should be opened after fixing a price below the lower border 192.03 of the Bearish Rectangle.

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 192.47 is broken. The further movements will rely on the width of the current pattern 43 points.

The Triple Bottom pattern has formed on the chart of GBPJPY M5. Features of the pattern: The lower line of the pattern has coordinates 192.98 with the upper limit 192.98/192.47, the projection of the width is 84 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 192.14, the price is most likely to continue the upward movement.

On the chart of GBPJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 193.29;the lower boundary 192.52; the width of the pattern 77 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 192.29 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 -4, support level -35, and pattern’s width 73. Forecast If the price breaks through the support level 192.52, it is likely to move further down to 193.10.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 193.25;the lower boundary 192.52; the width of the pattern 73 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 192.37 level.

The Bullish pennant signal – Trading instrument GBPJPY H1, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 191.97, with the prospect of the next move being a projection of the flagpole height.

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 192.08 is broken, the downward movement will continue.