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 M30. Characteristics: the upper boundary 213.66; the lower boundary 213.39; the width of the pattern is 30 points. Sell trades are better to be opened below the lower boundary 213.39 with a possible movements towards the 213.09 level.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 213.66; the lower boundary 213.39; the width of the pattern is 28 points. Sell trades are better to be opened below the lower boundary 213.39 with a possible movements towards the 213.16 level.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 213.65; the lower boundary 213.46; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 213.31 level.

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 213.24 – 213.24 and upper border 213.49 – 213.49. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of GBPJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 213.49; the lower boundary 212.41; the width of the pattern 108 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 212.11 level.

The Double Bottom pattern has been formed on GBPJPY H1; the upper boundary is 213.48; the lower boundary is 212.42. The width of the pattern is 102 points. In case of a break of the upper boundary 213.48, 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 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 215.03 is broken. The further movements will rely on the width of the current pattern 15 points.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 215.25 and 214.87 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 38 pips. Outlook: If the upper border 215.25 is broken, the price is likely to continue its move by 215.18.

On the chart of GBPJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 215.20; the lower boundary 214.99; the width of the pattern 21 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 214.84 level.

According to the chart of M5, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 215.32, the lower border is 215.12. The signal means that a long position should be opened above the upper border 215.32 of the Bullish Rectangle.