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

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 218.09/218.27 whereas the upper border goes across 218.40/218.27. 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 218.42.

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 218.47 is broken. The further movements will rely on the width of the current pattern 10 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 218.15 with the upper limit 218.15/218.11, the projection of the width is 14 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 218.01, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 218.01; the resistance level 218.15; the width of the pattern 14 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 13 points.

The Double Bottom pattern has been formed on GBPJPY M5. Characteristics: the support level 218.02; the resistance level 218.13; the width of the pattern 11 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 12 points.