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

The Double Top reversal pattern has been formed on EURJPY M5. Characteristics: the upper boundary 184.65; the lower boundary 184.53; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 184.53 with a possible movements towards the 184.38 level.

On the chart of the EURJPY 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 184.36, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 10 points.

According to the chart of M15, EURJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 184.23/184.35 whereas the upper border goes across 184.48/184.35. 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 EURJPY will breach the upper border to head for 184.57.

According to M5, EURJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 183.69/183.70 is broken out, the instrument is likely to move toward 183.85.

On the chart of the EURJPY M15 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 183.39, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 43 points.