FX.co ★ Patterns NZDJPY | New Zealand Dollar (NZD) to Japanese Yen (JPY) Rate in the Forex market

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 90.82/90.95 whereas the upper border goes across 91.08/90.95. 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 NZDJPY will breach the upper border to head for 91.10.

On the chart of the NZDJPY M15 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 90.45, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 34 points.

The Double Top pattern has been formed on NZDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 90.55 is broken, the downward movement will continue.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 90.83; the lower boundary 90.55; the width of the pattern 28 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 90.40 level.

According to the chart of M5, NZDJPY formed the Head and Shoulders pattern. The Head’s top is set at 90.04 while the median line of the Neck is found at 89.78/89.81. 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 NZDJPY will go towards 89.66.

According to the chart of M15, NZDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 89.59 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -46 pips.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 89.68 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -27 pips.

According to the chart of M15, NZDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 89.59 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -42 pips.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 89.81; the lower boundary 89.59; the width of the pattern is 23 points. Sell trades are better to be opened below the lower boundary 89.59 with a possible movements towards the 89.44 level.

The Triple Top pattern has formed on the chart of the NZDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 89.70/89.71 with the upper limit 89.83/89.86; the projection of the width is 13 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 89.70, the price is most likely to continue the downward movement.