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

According to the chart of M15, GBPJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 194.79, the lower border is 194.48. The signal means that a long position should be opened above the upper border 194.79 of the Bullish Rectangle.

The Triple Bottom pattern has formed on the chart of GBPJPY M5. Features of the pattern: The lower line of the pattern has coordinates 194.61 with the upper limit 194.61/194.60, the projection of the width is 12 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 194.49, the price is most likely to continue the upward movement.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 194.49 is likely to encourage a continuation of the downward trend.

On the chart of the GBPJPY M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 193.58, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 134 points.

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 -1, support level -18, and pattern’s width 30. Forecast If the price breaks through the support level 194.48, it is likely to move further down to 194.54.