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 M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -5, and pattern’s width 24. Forecast If the price breaks through the support level 195.89, it is likely to move further down to 195.97.

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 195.89 is broken, the downward movement will continue.

According to the chart of H1, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 194.63/194.98 whereas the upper border goes across 195.45/194.98. 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 195.38.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 194.78; the resistance level 194.96; the width of the pattern 18 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 18 points.

The Double Top reversal pattern has been formed on GBPJPY M5. Characteristics: the upper boundary 195.21; the lower boundary 194.97; the width of the pattern is 24 points. Sell trades are better to be opened below the lower boundary 194.97 with a possible movements towards the 194.82 level.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 194.68; the resistance level 194.84; the width of the pattern 16 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 15 points.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 195.10; the lower boundary is 194.74. The width of the pattern is 35 points. In case of a break of the upper boundary 195.10, 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 M15. Characteristics: the upper boundary 194.49; the lower boundary 194.15; the width of the pattern is 36 points. Sell trades are better to be opened below the lower boundary 194.15 with a possible movements towards the 193.93 level.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 194.07/194.28 whereas the upper border goes across 194.49/194.28. 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 194.43.

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 193.56 is broken. The further movements will rely on the width of the current pattern 16 points.