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 208.65/208.75 whereas the upper border goes across 208.87/208.75. 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 208.98.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 208.65/208.75 whereas the upper border goes across 208.87/208.75. 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 208.90.

According to the chart of M15, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 207.74/208.45 whereas the upper border goes across 209.30/208.45. 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 208.68.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 208.65; the lower boundary is 208.47. The width of the pattern is 19 points. In case of a break of the upper boundary 208.65, 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 Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 209.30; the lower boundary 209.12; the width of the pattern is 17 points. Sell trades are better to be opened below the lower boundary 209.12 with a possible movements towards the 208.97 level.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 210.20; the lower boundary 210.03; the width of the pattern is 16 points. Sell trades are better to be opened below the lower boundary 210.03 with a possible movements towards the 209.88 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 212.10 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 213.36; the lower boundary 213.15; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 213.15 with a possible movements towards the 213.00 level.

According to the chart of M5, GBPJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 212.58 while the median line of the Neck is set at 213.58/213.48. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPJPY will go towards 213.63.

On the chart of GBPJPY H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 214.41; the lower boundary 211.58; the width of the pattern 283 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 211.18 level.