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

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 212.44; the lower boundary 212.16; the width of the pattern 28 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 212.01 level.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 212.08; the lower boundary 211.92; the width of the pattern 16 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 211.77 level.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 211.39 is likely to encourage a continuation of the downward trend.

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 211.60/211.70 with the upper limit 211.80/211.81; the projection of the width is 20 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 211.60, the price is most likely to continue the downward movement.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 211.31 is likely to encourage a continuation of the downward trend.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 211.54 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -38 pips.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 211.93, the lower border is 211.54. The signal means that a long position should be opened above the upper border 211.93 of the Bullish Rectangle.

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 -1, support level -2, and pattern’s width 26. Forecast If the price breaks through the support level 210.69, it is likely to move further down to 210.86.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 210.97; the lower boundary 210.38; the width of the pattern is 62 points. Sell trades are better to be opened below the lower boundary 210.38 with a possible movements towards the 210.23 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 211.42 and support 211.23. In case the resistance level 211.42 - 211.42 is broken, the instrument is likely to follow the bullish trend.