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The Double Bottom pattern has been formed on EURJPY H1; the upper boundary is 186.64; the lower boundary is 186.29. The width of the pattern is 35 points. In case of a break of the upper boundary 186.64, 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 EURJPY 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 186.64 is broken. The further movements will rely on the width of the current pattern 35 points.

The Double Bottom pattern has been formed on EURJPY 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 186.64 is broken. The further movements will rely on the width of the current pattern 35 points.

According to the chart of M15, EURJPY formed the Head and Shoulders pattern. The Head’s top is set at 187.92 while the median line of the Neck is found at 187.65/187.60. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of EURJPY will go towards 187.38.

The technical pattern called Head and Shoulders has appeared on the chart of EURJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 187.35/187.35 after the right shoulder has been formed. So, the trend is set to change with the price heading for 187.20.