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

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 93.96 is broken. The further movements will rely on the width of the current pattern 42 points.

The Triple Top pattern has formed on the chart of the AUDJPY M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 10, support level -38, and pattern’s width 82. Forecast If the price breaks through the support level 93.28, it is likely to move further down to 93.64.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 93.94 and 93.50 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 44 pips. Outlook: If the upper border 93.94 is broken, the price is likely to continue its move by 93.90.

The Double Top pattern has been formed on AUDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 94.00 is broken, the downward movement will continue.

According to the chart of M5, AUDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 94.18, the lower border is 94.00. The signal means that a long position should be opened above the upper border 94.18 of the Bullish Rectangle.

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 94.02/94.08 with the upper limit 94.18/94.18; the projection of the width is 16 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 94.02, the price is most likely to continue the downward movement.

The AUDJPY M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 93.89, the Neckline and the upward angle are at 93.52/93.57. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of AUDJPY will go towards 93.42.

According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 93.05 is likely to encourage a continuation of the downward trend.

The Double Top pattern has been formed on AUDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 93.25 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on AUDJPY M5. Characteristics: the upper boundary 93.18; the lower boundary 93.06; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 93.06 with a possible movements towards the 92.91 level.