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

On the chart of the NZDJPY 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 85.14, 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 Double Top reversal pattern has been formed on NZDJPY M30. Characteristics: the upper boundary 84.98; the lower boundary 84.37; the width of the pattern is 65 points. Sell trades are better to be opened below the lower boundary 84.37 with a possible movements towards the 84.07 level.

The Triple Top pattern has formed on the chart of the NZDJPY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -3, and pattern’s width 17. Forecast If the price breaks through the support level 84.72, it is likely to move further down to 84.75.

On the chart of the NZDJPY 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 84.56, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 32 points.

The Double Top pattern has been formed on NZDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 84.56 is broken, the downward movement will continue.

According to the chart of M15, NZDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 84.37 – 84.37 and upper border 84.98 – 84.98. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on NZDJPY M15. Characteristics: the upper boundary 84.98; the lower boundary 84.43; the width of the pattern is 55 points. Sell trades are better to be opened below the lower boundary 84.43 with a possible movements towards the 84.21 level.

The technical pattern called Head and Shoulders has appeared on the chart of NZDJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 84.67/84.70 after the right shoulder has been formed. So, the trend is set to change with the price heading for 84.55.

The Bullish pennant signal – Trading instrument NZDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 84.85, with the prospect of the next move being a projection of the flagpole height.

The Bearish pennant pattern has formed on the NZDJPY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 83.11; the projection of the flagpole height is equal to 45 pips. In case the price breaks out the pattern’s bottom of 83.11, the downtrend is expected to continue for further level 82.96.