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

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 208.94; the resistance level 209.02; the width of the pattern 8 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 8 points.

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 208.99 and support 208.85. In case the resistance level 208.99 - 208.99 is broken, the instrument is likely to follow the bullish trend.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 208.99; the lower boundary 208.86; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 208.71 level.

According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 208.65/208.75 whereas the upper border goes across 208.87/208.75. 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 208.98.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 208.65/208.75 whereas the upper border goes across 208.87/208.75. 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 208.90.

According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 207.74/208.45 whereas the upper border goes across 209.30/208.45. 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 208.68.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 208.65; the lower boundary is 208.47. The width of the pattern is 19 points. In case of a break of the upper boundary 208.65, 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 Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 209.30; the lower boundary 209.12; the width of the pattern is 17 points. Sell trades are better to be opened below the lower boundary 209.12 with a possible movements towards the 208.97 level.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 210.20; the lower boundary 210.03; the width of the pattern is 16 points. Sell trades are better to be opened below the lower boundary 210.03 with a possible movements towards the 209.88 level.

The Double Top pattern has been formed on GBPJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 212.10 is broken, the downward movement will continue.