FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 218.53/218.37 whereas the lower border goes across 218.16/218.37. The pattern width is measured on the chart at 37 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 218.37 is broken, the price could continue its move toward 218.52.

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 217.60 is broken. The further movements will rely on the width of the current pattern 18 points.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 217.61/217.78 whereas the upper border goes across 217.92/217.78. 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 217.93.

The Double Bottom pattern has been formed on GBPJPY M5; the upper boundary is 217.77; the lower boundary is 217.68. The width of the pattern is 10 points. In case of a break of the upper boundary 217.77, 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 Triple Top pattern has formed on the chart of the GBPJPY M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -27, and pattern’s width 38. Forecast If the price breaks through the support level 218.07, it is likely to move further down to 218.26.