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

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 3, support level -4, and pattern’s width 16. Forecast If the price breaks through the support level 197.14, it is likely to move further down to 197.12.

On the chart of the GBPJPY M15 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 196.64, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 23 points.

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 -2, support level -18, and pattern’s width 23. Forecast If the price breaks through the support level 196.64, it is likely to move further down to 196.73.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 196.57/196.73 whereas the upper border goes across 196.87/196.73. 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 196.88.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 195.26; the lower boundary is 195.02. The width of the pattern is 23 points. In case of a break of the upper boundary 195.26, 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, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 196.51/196.28 whereas the lower border goes across 195.99/196.28. The pattern width is measured on the chart at 52 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 196.28 is broken, the price could continue its move toward 196.43.

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 197.06; the lower boundary 196.74; the width of the pattern 32 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 196.44 level.

According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 196.82/196.92 whereas the upper border goes across 197.02/196.92. 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 197.15.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 196.45; the lower boundary 196.33; the width of the pattern is 12 points. Sell trades are better to be opened below the lower boundary 196.33 with a possible movements towards the 196.18 level.

According to the chart of M5, GBPJPY formed the Head and Shoulders pattern. The Head’s top is set at 196.59 while the median line of the Neck is found at 196.25/196.27. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPJPY will go towards 196.12.