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

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 93.48; the lower boundary 93.22; the width of the pattern is 27 points. Sell trades are better to be opened below the lower boundary 93.22 with a possible movements towards the 93.07 level.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 92.90/93.01 whereas the upper border goes across 93.10/93.01. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDJPY will breach the upper border to head for 93.16.

The Triple Top pattern has formed on the chart of the NZDJPY M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -3, support level -4, and pattern’s width 41. Forecast If the price breaks through the support level 92.70, it is likely to move further down to 92.82.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 93.14 and 92.99 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 15 pips. Outlook: If the upper border 93.14 is broken, the price is likely to continue its move by 93.22.

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 92.98 – 92.98 and upper border 93.14 – 93.14. In case the upper border is broken, the instrument is likely to follow the upward trend.