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

The Double Bottom pattern has been formed on EURJPY M5. Characteristics: the support level 162.09; the resistance level 162.20; the width of the pattern 11 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 11 points.

According to the chart of M15, EURJPY formed the Head and Shoulders pattern. The Head’s top is set at 162.59 while the median line of the Neck is found at 162.33/162.33. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of EURJPY will go towards 162.10.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart EURJPY M5. Forecast: if the price breaks above the pattern high at 162.40, then traders will be able to place a long deal with the target at 162.55.

The Bullish pennant graphic pattern has formed on the EURJPY M5 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 162.55.

According to the chart of H1, EURJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 162.43, the lower border is 161.81. The signal means that a long position should be opened above the upper border 162.43 of the Bullish Rectangle.