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

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 191.95; the lower boundary 191.84; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 191.84 with a possible movements towards the 191.69 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 192.81 with the upper limit 192.81/192.53, the projection of the width is 98 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 191.83, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on GBPJPY H1. Characteristics: the support level 191.76; the resistance level 195.72; the width of the pattern 396 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 389 points.

The Double Bottom pattern has been formed on GBPJPY M30. 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 195.72 is broken. The further movements will rely on the width of the current pattern 396 points.

The Triple Bottom pattern has been formed on GBPJPY M15. It has the following characteristics: resistance level 192.54/192.19; support level 191.86/191.88; the width is 68 points. In the event of a breakdown of the resistance level of 192.54, the price is likely to continue an upward movement at least to 192.05.

The Double Bottom pattern has been formed on GBPJPY M15; the upper boundary is 192.54; the lower boundary is 191.83. The width of the pattern is 68 points. In case of a break of the upper boundary 192.54, 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.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 195.72 and 195.13 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 59 pips. Outlook: If the upper border 195.72 is broken, the price is likely to continue its move by 195.54.

According to the chart of M5, GBPJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 195.20 – 195.20 and upper border 195.72 – 195.72. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 196.52; the resistance level 196.89; the width of the pattern 37 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 35 points.

According to the chart of M5, GBPJPY formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 196.98, the lower border is 196.91. The signal means that a short position should be opened after fixing a price below the lower border 196.91 of the Bearish Rectangle.