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, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 194.08/193.80 whereas the lower border goes across 193.52/193.80. The pattern width is measured on the chart at 56 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 193.80 is broken, the price could continue its move toward 193.95.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 194.08, the lower border is 193.58. The signal means that a long position should be opened above the upper border 194.08 of the Bullish Rectangle.

The Double Bottom pattern has been formed on GBPJPY M15. 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 193.36 is broken. The further movements will rely on the width of the current pattern 37 points.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 194.44; the lower boundary 194.21; the width of the pattern is 24 points. Sell trades are better to be opened below the lower boundary 194.21 with a possible movements towards the 194.06 level.

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 196.29 is broken. The further movements will rely on the width of the current pattern 27 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 196.91 with the upper limit 196.91/196.43, the projection of the width is 73 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 196.18, the price is most likely to continue the upward movement.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 196.59; the lower boundary 196.39; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 196.39 with a possible movements towards the 196.24 level.

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 196.07/196.10 with the upper limit 196.17/196.18; the projection of the width is 10 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 196.07, the price is most likely to continue the downward movement.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 195.89; the lower boundary 195.74; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 195.74 with a possible movements towards the 195.59 level.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 195.19; the resistance level 195.40; the width of the pattern 21 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 20 points.