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

On the chart of GBPJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 192.49; the lower boundary 192.10; the width of the pattern 39 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 191.88 level.

The Double Top reversal pattern has been formed on GBPJPY H1. Characteristics: the upper boundary 192.29; the lower boundary 190.84; the width of the pattern is 136 points. Sell trades are better to be opened below the lower boundary 190.84 with a possible movements towards the 190.44 level.

According to the chart of M5, GBPJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 190.87 is likely to encourage a continuation of the downward trend.

The technical pattern called Head and Shoulders has appeared on the chart of GBPJPY M15. There are weighty reasons to suggest that the price will surpass the Neckline 191.36/191.36 after the right shoulder has been formed. So, the trend is set to change with the price heading for 191.13.

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 192.05 and 190.91 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 114 pips. Outlook: If the upper border 192.05 is broken, the price is likely to continue its move by 191.72.