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

According to the chart of M5, GBPJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 212.36 and 212.03 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 33 pips. Outlook: If the upper border 212.36 is broken, the price is likely to continue its move by 212.34.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 105.73/105.80 whereas the upper border goes across 105.85/105.80. 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 AUDJPY will breach the upper border to head for 105.95.

The Double Top reversal pattern has been formed on GBPJPY M15. Characteristics: the upper boundary 212.35; the lower boundary 212.18; the width of the pattern is 18 points. Sell trades are better to be opened below the lower boundary 212.18 with a possible movements towards the 211.96 level.

The Double Top pattern has been formed on GBPJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 212.18 is broken, the downward movement will continue.

On the chart of GBPAUD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 2.0057; the lower boundary 2.0042; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 2.0027 level.