FX.co ★ Patterns AUDJPY | Australian Dollar (AUD) to Japanese Yen (JPY) Rate in the Forex market

According to the chart of M30, AUDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 113.69 – 113.69 and upper border 113.87 – 113.87. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M15, AUDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 113.69 – 113.69 and upper border 113.87 – 113.87. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on AUDJPY M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 113.71 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on AUDJPY M30. Characteristics: the upper boundary 113.86; the lower boundary 113.71; the width of the pattern is 16 points. Sell trades are better to be opened below the lower boundary 113.71 with a possible movements towards the 113.41 level.

On the chart of AUDJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 113.87; the lower boundary 113.71; the width of the pattern 16 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 113.49 level.

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 113.59/113.64 with the upper limit 113.76/113.75; the projection of the width is 17 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 113.59, the price is most likely to continue the downward movement.

On the chart of the AUDJPY 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 113.29, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 12 points.

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.