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; 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.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 213.36; the lower boundary 213.15; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 213.15 with a possible movements towards the 213.00 level.

According to the chart of M5, GBPJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 212.58 while the median line of the Neck is set at 213.58/213.48. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPJPY will go towards 213.63.

On the chart of GBPJPY H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 214.41; the lower boundary 211.58; the width of the pattern 283 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 211.18 level.

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.