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

The Double Top reversal pattern has been formed on EURJPY M5. Characteristics: the upper boundary 186.17; the lower boundary 186.08; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 186.08 with a possible movements towards the 185.93 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 185.96, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 10 points.

The Double Top reversal pattern has been formed on EURJPY M5. Characteristics: the upper boundary 186.06; the lower boundary 185.96; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 185.96 with a possible movements towards the 185.81 level.

According to the chart of M5, EURJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 186.06 and support 185.96. In case the resistance level 186.06 - 186.06 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M15, EURJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 185.68/185.91 whereas the upper border goes across 186.17/185.91. 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 186.13.