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 M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 4, support level -17, and pattern’s width 41. Forecast If the price breaks through the support level 213.35, it is likely to move further down to 213.52.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 213.20; the lower boundary 213.04; the width of the pattern 16 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 212.89 level.

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 212.74; the lower boundary 212.11; the width of the pattern 63 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 211.81 level.

According to the chart of M30, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 211.17/211.35 whereas the upper border goes across 211.51/211.35. 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 211.65.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 210.99/211.14 and upper border is 211.34/211.14. The pattern width is measured on the chart at -35 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPJPY breaches the lower border, the price could continue its move toward 210.99.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 209.86/210.16 and upper border is 210.50/210.16. The pattern width is measured on the chart at -64 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and GBPJPY breaches the lower border, the price could continue its move toward 210.01.

According to the chart of M30, GBPJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 210.17 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -125 pips.

According to M5, GBPJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 212.58/212.57 is broken out, the instrument is likely to move toward 212.72.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 212.63; the lower boundary is 212.54. The width of the pattern is 8 points. In case of a break of the upper boundary 212.63, 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 M15, GBPJPY formed the Head and Shoulders pattern. The Head’s top is set at 213.27 while the median line of the Neck is found at 212.72/212.79. 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 212.57.