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

According to the chart of M15, NZDJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 87.77 while the median line of the Neck is found at 87.51/87.66. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDJPY will go towards 88.00

According to the chart of M15, NZDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 88.22 and support 88.10. In case the resistance level 88.22 - 88.22 is broken, the instrument is likely to follow the bullish trend.

The Bullish pennant pattern is formed on the NZDJPY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 88.24, a further uptrend is possible.

The Triple Top pattern has formed on the chart of the NZDJPY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -2, and pattern’s width 7. Forecast If the price breaks through the support level 88.07, it is likely to move further down to 88.01.

The Bullish Flag pattern has been formed on NZDJPY at M15. The lower boundary of the pattern is located at 87.57/87.47, while the higher boundary lies at 87.65/87.55. The projection of the flagpole is 40 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 87.65 is broken, the price will move further upwards.