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

The technical pattern called Head and Shoulders has appeared on the chart of AUDJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 103.56/103.57 after the right shoulder has been formed. So, the trend is set to change with the price heading for 103.42.

On the chart of AUDJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 103.64; the lower boundary 103.48; the width of the pattern 16 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 103.25 level.

On the chart of the AUDJPY M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 103.41, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 19 points.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 103.60/103.51 whereas the lower border goes across 103.40/103.51. The pattern width is measured on the chart at 20 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 103.51 is broken, the price could continue its move toward 103.66.

According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 103.13 is likely to encourage a continuation of the downward trend.