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

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 91.06 is broken. The further movements will rely on the width of the current pattern 8 points.

According to the chart of M5, NZDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 91.06, the lower border is 90.96. The signal means that a long position should be opened above the upper border 91.06 of the Bullish Rectangle.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 90.82/90.95 whereas the upper border goes across 91.08/90.95. 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 91.10.

On the chart of the NZDJPY 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 90.45, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 34 points.

The Double Top pattern has been formed on NZDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 90.55 is broken, the downward movement will continue.