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 211.36; the lower boundary 211.25; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 211.10 level.

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 210.90/210.91 with the upper limit 211.04/211.01; the projection of the width is 14 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 210.90, the price is most likely to continue the downward movement.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 211.04, the lower border is 210.90. The signal means that a long position should be opened above the upper border 211.04 of the Bullish Rectangle.

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 210.89 is broken. The further movements will rely on the width of the current pattern 23 points.

The Triple Bottom pattern has formed on the chart of GBPJPY M5. Features of the pattern: The lower line of the pattern has coordinates 210.58 with the upper limit 210.58/210.55, the projection of the width is 20 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 210.38, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on GBPJPY M5. It has the following characteristics: resistance level 210.77/210.58; support level 210.40/210.37; the width is 37 points. In the event of a breakdown of the resistance level of 210.77, the price is likely to continue an upward movement at least to 210.53.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 210.58; the lower boundary is 210.37. The width of the pattern is 20 points. In case of a break of the upper boundary 210.58, 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.

The Double Bottom pattern has been formed on GBPJPY M15. Characteristics: the support level 210.40; the resistance level 210.77; the width of the pattern 37 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 39 points.

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 210.48 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -103 pips.

According to the chart of H1, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 210.11/210.80 whereas the upper border goes across 211.39/210.80. 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 211.20.