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

According to the chart of M5, NZDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 87.53 – 87.53 and upper border 87.62 – 87.62. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Triple Bottom pattern has been formed on NZDJPY M5. It has the following characteristics: resistance level 87.64/87.61; support level 87.53/87.52; the width is 11 points. In the event of a breakdown of the resistance level of 87.64, the price is likely to continue an upward movement at least to 87.68.

The Double Top pattern has been formed on NZDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 87.55 is broken, the downward movement will continue.

According to the chart of M5, NZDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 87.65 - 0.00 and support 87.50 – 87.50. In case the resistance level 87.50 - 87.50 is broken, the instrument is likely to follow the bearish trend.

According to M15, NZDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 87.76/87.74 is broken out, the instrument is likely to move toward 87.96.