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

The Double Bottom pattern has been formed on NZDJPY M5. Characteristics: the support level 94.58; the resistance level 94.70; the width of the pattern 12 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.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 94.52/94.58 and upper border is 94.67/94.58. The pattern width is measured on the chart at -15 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDJPY breaches the lower border, the price could continue its move toward 94.43.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 94.84 and 94.73 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 11 pips. Outlook: If the upper border 94.84 is broken, the price is likely to continue its move by 94.94.