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

The technical pattern called Head and Shoulders has appeared on the chart of NZDJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 87.83/87.84 after the right shoulder has been formed. So, the trend is set to change with the price heading for 87.69.

According to the chart of M5, #PEP formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 141.03 – 141.03 and upper border 141.45 – 141.45. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Triple Bottom pattern has been formed on #PEP M5. It has the following characteristics: resistance level 142.16/141.45; support level 141.04/141.03; the width is 112 points. In the event of a breakdown of the resistance level of 142.16, the price is likely to continue an upward movement at least to 141.19.

According to the chart of M5, GBPJPY formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 200.42, the lower border is 200.19. The signal means that a short position should be opened after fixing a price below the lower border 200.19 of the Bearish Rectangle.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 87.72/87.83 and upper border is 87.92/87.83. The pattern width is measured on the chart at -20 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 87.68.