was formed on 06.05 at 23:38:00 (UTC+0)
signal strength 1 of 5
signal strength 1 of 5
According to the chart of M5, GBPJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 190.30 while the median line of the Neck is set at 190.62/190.61. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPJPY will go towards 190.76.
The M5 and M15 time frames may have more false entry points.
Figure
Instrument
Timeframe
Trend
Signal Strength
