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

The Triple Bottom pattern has been formed on NZDJPY M30. It has the following characteristics: resistance level 91.64/91.33; support level 91.14/91.17; the width is 50 points. In the event of a breakdown of the resistance level of 91.64, the price is likely to continue an upward movement at least to 91.45.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 91.64 and 91.02 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 62 pips. Outlook: If the upper border 91.64 is broken, the price is likely to continue its move by 91.49.

The Double Bottom pattern has been formed on NZDJPY M15; the upper boundary is 91.64; the lower boundary is 91.15. The width of the pattern is 50 points. In case of a break of the upper boundary 91.64, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Double Bottom pattern has been formed on NZDJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 91.79 is broken. The further movements will rely on the width of the current pattern 16 points.

According to M15, NZDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 92.94/92.93 is broken out, the instrument is likely to move toward 93.15.