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

The Bearish Flag pattern has been formed on the chart AUDJPY M15. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 112.80, traders should enter the market.

The Bearish pennant pattern has formed on the AUDJPY M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 112.80 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Bottom pattern has been formed on AUDJPY M5. Characteristics: the support level 113.52; the resistance level 113.57; the width of the pattern 5 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 5 points.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart AUDJPY M5. Forecast: if the price breaks above the pattern high at 113.16, then traders will be able to place a long deal with the target at 113.31.

The Double Top reversal pattern has been formed on AUDJPY D1. Characteristics: the upper boundary 114.65; the lower boundary 111.27; the width of the pattern is 341 points. Sell trades are better to be opened below the lower boundary 111.27 with a possible movements towards the 110.87 level.

The Double Bottom pattern has been formed on AUDJPY 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 112.92 is broken. The further movements will rely on the width of the current pattern 25 points.

According to the chart of M5, AUDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 112.96 – 112.96 and upper border 113.04 – 113.04. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Triple Top pattern has formed on the chart of the AUDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 112.96/112.98 with the upper limit 113.03/113.04; the projection of the width is 7 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 112.96, the price is most likely to continue the downward movement.

According to the chart of M5, AUDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 113.24 - 0.00 and support 113.08 – 113.08. In case the resistance level 113.08 - 113.08 is broken, the instrument is likely to follow the bearish trend.

The Double Top reversal pattern has been formed on AUDJPY D1. Characteristics: the upper boundary 114.65; the lower boundary 111.27; the width of the pattern is 341 points. Sell trades are better to be opened below the lower boundary 111.27 with a possible movements towards the 110.87 level.