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 M15. Characteristics: the upper boundary 199.68; the lower boundary 199.50; the width of the pattern is 17 points. Sell trades are better to be opened below the lower boundary 199.50 with a possible movements towards the 199.27 level.

The Double Top pattern has been formed on GBPJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 199.45 is broken, the downward movement will continue.

On the chart of GBPJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 199.42; the lower boundary 199.18; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 198.96 level.

The Triple Bottom pattern has formed on the chart of the GBPJPY M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 199.01/198.92.

The Triple Bottom pattern has formed on the chart of GBPJPY M5. Features of the pattern: The lower line of the pattern has coordinates 199.12 with the upper limit 199.12/199.01, the projection of the width is 27 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 198.85, the price is most likely to continue the upward movement.

According to the chart of H1, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 200.31 and 199.23 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 108 pips. Outlook: If the upper border 200.31 is broken, the price is likely to continue its move by 200.13.

According to the chart of M30, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 200.31 and 199.23 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 108 pips. Outlook: If the upper border 200.31 is broken, the price is likely to continue its move by 200.04.

The Double Bottom pattern has been formed on GBPJPY M15. Characteristics: the support level 199.55; the resistance level 199.76; the width of the pattern 21 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 23 points.

The Double Bottom pattern has been formed on GBPJPY M5. 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 199.97 is broken. The further movements will rely on the width of the current pattern 16 points.

The Double Bottom pattern has been formed on GBPJPY M5. 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 199.92 is broken. The further movements will rely on the width of the current pattern 11 points.