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Actual patterns
Double Top
The Double Top pattern has formed on the USDJPY M5 chart and signals a potential reversal from an uptrend to a downtrend. A break below the pattern base at 157.80 is likely to confirm further downward movement.
Double Bottom
The Double Bottom pattern has formed on the USDJPY M5 chart. Its support is at 157.49, its resistance is at 157.67, and its width is 18 points. A break above resistance may confirm a trend reversal, with the first target projected 17 points away.
Bullish Flag
The Bullish Flag pattern has formed on the USDJPY M5 chart. Its lower boundary passes through 157.16/157.08, while its upper boundary passes through 157.26/157.18. The projected flagpole height is 36 points. The formation indicates that the uptrend is likely to continue. A break above 157.26 would confirm further upward movement.
Bullish Pennant
The Bullish Pennant pattern has formed on the USDJPY M5 chart. This is a continuation pattern. If the price closes above the pennant high at 157.26, the uptrend is likely to continue.
Double Bottom
The Double Bottom pattern has formed on the USDJPY M5 chart. Its support is at 157.97, its resistance is at 158.12, and its width is 15 points. A break above resistance may confirm a trend reversal, with the first target projected 15 points away.
