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

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 207.04 is broken, the downward movement will continue.

According to the chart of M5, GBPJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 206.43 - 0.00 and support 206.19 – 206.19. In case the resistance level 206.19 - 206.19 is broken, the instrument is likely to follow the bearish trend.

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 206.40 is broken. The further movements will rely on the width of the current pattern 20 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 206.87 with the upper limit 206.87/206.70, the projection of the width is 34 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 206.53, the price is most likely to continue the upward movement.

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 206.87 is broken. The further movements will rely on the width of the current pattern 34 points.

The Double Top reversal pattern has been formed on GBPJPY H1. Characteristics: the upper boundary 207.31; the lower boundary 206.85; the width of the pattern is 48 points. Sell trades are better to be opened below the lower boundary 206.85 with a possible movements towards the 206.45 level.

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 207.29; the lower boundary 206.85; the width of the pattern 44 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 206.55 level.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 207.31; the lower boundary 206.85; the width of the pattern is 44 points. Sell trades are better to be opened below the lower boundary 206.85 with a possible movements towards the 206.63 level.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 205.98; the lower boundary 205.76; the width of the pattern 22 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 205.61 level.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 205.91 and 205.79 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 12 pips. Outlook: If the upper border 205.91 is broken, the price is likely to continue its move by 206.00.