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 H1. Characteristics: the upper boundary 203.91; the lower boundary 203.32; the width of the pattern is 64 points. Sell trades are better to be opened below the lower boundary 203.32 with a possible movements towards the 202.92 level.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 203.21/203.27 and upper border is 203.35/203.27. The pattern width is measured on the chart at -14 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 203.12.

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 203.21 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -13 pips.

The Triple Bottom pattern has been formed on GBPJPY M5. It has the following characteristics: resistance level 203.52/203.42; support level 203.18/203.18; the width is 34 points. In the event of a breakdown of the resistance level of 203.52, the price is likely to continue an upward movement at least to 203.33.

According to the chart of M15, GBPJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 203.76 and support 203.41. In case the resistance level 203.76 - 203.76 is broken, the instrument is likely to follow the bullish trend.

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 203.60/203.61 with the upper limit 203.76/203.74; the projection of the width is 16 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 203.60, the price is most likely to continue the downward movement.

According to the chart of M5, GBPJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 203.60 – 203.60 and upper border 203.76 – 203.76. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 203.41/203.60 with the upper limit 203.74/203.74; the projection of the width is 33 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 203.41, the price is most likely to continue the downward movement.

According to the chart of M5, GBPJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 203.20 – 203.20 and upper border 203.36 – 203.36. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 202.91 is broken, the downward movement will continue.