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

On the chart of the USDJPY M5 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 157.60, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.

On the chart of the USDJPY M5 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 156.33, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 54 points.

The Double Top pattern has been formed on USDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 156.65 is broken, the downward movement will continue.

On the chart of USDJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 156.87; the lower boundary 155.00; the width of the pattern 187 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 154.77 level.

The Double Top reversal pattern has been formed on USDJPY M5. Characteristics: the upper boundary 156.83; the lower boundary 155.00; the width of the pattern is 187 points. Sell trades are better to be opened below the lower boundary 155.00 with a possible movements towards the 154.85 level.