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

According to the chart of M15, EURJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 163.99/164.41 and upper border is 164.85/164.41. The pattern width is measured on the chart at -86 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 EURJPY breaches the lower border, the price could continue its move toward 164.18.

According to the chart of M5, EURJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 164.76 and 164.07 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 69 pips. Outlook: If the upper border 164.76 is broken, the price is likely to continue its move by 164.52.

The Double Bottom pattern has been formed on EURJPY M15; the upper boundary is 164.60; the lower boundary is 163.99. The width of the pattern is 60 points. In case of a break of the upper boundary 164.60, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.