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

According to the chart of M5, USDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 160.31 and support 160.24. In case the resistance level 160.31 - 160.31 is broken, the instrument is likely to follow the bullish trend.

On the chart of the USDJPY H1 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 159.39, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 62 points.

The Double Top reversal pattern has been formed on USDJPY H1. Characteristics: the upper boundary 160.00; the lower boundary 159.87; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 159.87 with a possible movements towards the 159.47 level.

The Double Top reversal pattern has been formed on USDJPY M30. Characteristics: the upper boundary 160.00; the lower boundary 159.87; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 159.87 with a possible movements towards the 159.57 level.

The Bullish Flag pattern has been formed on the chart USDJPY M15 which signals that the upward trend will continue. Signals: а break of the peak at 159.79 may push the price higher, and the rise will be the projection of the pole.