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 93.85; the lower boundary 93.55; the width of the pattern 30 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 93.40 level.

The Double Bottom pattern has been formed on NZDJPY H1. Characteristics: the support level 93.71; the resistance level 93.92; the width of the pattern 21 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 22 points.

The Double Bottom pattern has been formed on NZDJPY M30. 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 93.92 is broken. The further movements will rely on the width of the current pattern 21 points.

According to the chart of H1, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 95.38 and 94.15 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 123 pips. Outlook: If the upper border 95.38 is broken, the price is likely to continue its move by 95.11.

According to the chart of M15, NZDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 95.38 and support 95.22. In case the resistance level 95.38 - 95.38 is broken, the instrument is likely to follow the bullish trend.