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

According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 207.50/208.22 whereas the upper border goes across 208.72/208.22. 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 208.45.

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 208.72; the lower boundary 208.19; the width of the pattern 53 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 207.89 level.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 208.42; the lower boundary is 208.20. The width of the pattern is 23 points. In case of a break of the upper boundary 208.42, 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. 208.56 and 208.33 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 23 pips. Outlook: If the upper border 208.56 is broken, the price is likely to continue its move by 208.61.

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 208.18 is broken, the downward movement will continue.

According to the chart of M30, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 208.86 and 207.77 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 109 pips. Outlook: If the upper border 208.86 is broken, the price is likely to continue its move by 208.71.

According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 208.86 and 207.77 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 109 pips. Outlook: If the upper border 208.86 is broken, the price is likely to continue its move by 208.65.

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 208.26 is broken. The further movements will rely on the width of the current pattern 26 points.

On the chart of the GBPJPY H1 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 208.20, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 71 points.

According to the chart of M5, GBPJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 208.30 – 208.30 and upper border 208.52 – 208.52. In case the lower border is broken, the instrument is likely to follow the downward trend.