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

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 190.28; the lower boundary 190.02; the width of the pattern is 25 points. Sell trades are better to be opened below the lower boundary 190.02 with a possible movements towards the 189.79 level.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 190.27; the lower boundary 190.02; the width of the pattern 25 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 189.87 level.

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 188.79 is broken, the downward movement will continue.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 188.44, the lower border is 188.18. The signal means that a long position should be opened above the upper border 188.44 of the Bullish Rectangle.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 187.44; the resistance level 187.65; the width of the pattern 21 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 20 points.

According to the chart of M30, GBPJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 187.56 – 187.56 and upper border 188.16 – 188.16. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M15, GBPJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 187.56 – 187.56 and upper border 188.16 – 188.16. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 188.00; the resistance level 188.20; the width of the pattern 20 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 19 points.

On the chart of the GBPJPY M30 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 188.69, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 42 points.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 188.84; the lower boundary is 188.74. The width of the pattern is 9 points. In case of a break of the upper boundary 188.84, 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.