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

According to the chart of M15, USDJPY formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 163.57, the lower border is 163.22. The signal means that a short position should be opened after fixing a price below the lower border 163.22 of the Bearish Rectangle.

The Bullish pennant graphic pattern has formed on the USDJPY M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 164.18.

On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 163.90; the lower boundary 163.66; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 163.51 level.

The USDJPY M30 formed the Head and Shoulders pattern with the following features: The Head’s top is at 163.85, the Neckline and the upward angle are at 163.69/163.69. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of USDJPY will go towards 163.39.

The Triple Top pattern has formed on the chart of the USDJPY M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 1, support level -9, and pattern’s width 18. Forecast If the price breaks through the support level 163.60, it is likely to move further down to 163.57.