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 208.90; the lower boundary 208.79; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 208.64 level.

The Double Top pattern has been formed on GBPJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 207.61 is broken, the downward movement will continue.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 207.78; the lower boundary 207.67; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 207.52 level.

The Bullish pennant graphic pattern has formed on the GBPJPY M30 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 208.12.

According to the chart of M15, GBPJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 207.38 – 207.38 and upper border 207.69 – 207.69. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on GBPJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 207.38 is broken, the downward movement will continue.

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 206.97 is broken, the downward movement will continue.

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 207.04 is broken, the downward movement will continue.

According to the chart of M5, GBPJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 206.43 - 0.00 and support 206.19 – 206.19. In case the resistance level 206.19 - 206.19 is broken, the instrument is likely to follow the bearish trend.

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 206.40 is broken. The further movements will rely on the width of the current pattern 20 points.