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

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 91.77; the lower boundary 91.62; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 91.47 level.

The Double Bottom pattern has been formed on NZDJPY M30; the upper boundary is 91.60; the lower boundary is 91.22. The width of the pattern is 39 points. In case of a break of the upper boundary 91.60, 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. Characteristics: the support level 91.22; the resistance level 91.34; the width of the pattern 12 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 12 points.

The Double Bottom pattern has been formed on NZDJPY M15. 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 91.60 is broken. The further movements will rely on the width of the current pattern 39 points.

The Double Top pattern has been formed on NZDJPY M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 91.20 is broken, the downward movement will continue.