FX.co ★ Patterns USDJPY | US Dollar (USD) to Japanese Yen (JPY) Rate in the Forex market

The Double Top reversal pattern has been formed on USDJPY M5. Characteristics: the upper boundary 144.20; the lower boundary 144.03; the width of the pattern is 16 points. Sell trades are better to be opened below the lower boundary 144.03 with a possible movements towards the 143.88 level.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart USDJPY M5. Forecast: if the price breaks above the pattern high at 144.18, then traders will be able to place a long deal with the target at 144.33.

The Bullish pennant signal – Trading instrument USDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 144.18, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, USDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 143.47/143.69 whereas the upper border goes across 143.98/143.69. 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 USDJPY will breach the upper border to head for 143.84.

The Bullish pennant signal – Trading instrument USDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 143.28, with the prospect of the next move being a projection of the flagpole height.

The Triple Bottom pattern has formed on the chart of USDJPY M15. Features of the pattern: The lower line of the pattern has coordinates 142.94 with the upper limit 142.94/142.84, the projection of the width is 32 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 142.62, the price is most likely to continue the upward movement.

On the chart of the USDJPY 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 144.07, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 21 points.

According to the chart of M5, USDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 144.12 and support 143.84. In case the resistance level 144.12 - 144.12 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M15, USDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 143.84 – 143.84 and upper border 144.12 – 144.12. 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 USDJPY M30. Characteristics: the upper boundary 144.11; the lower boundary 143.85; the width of the pattern is 27 points. Sell trades are better to be opened below the lower boundary 143.85 with a possible movements towards the 143.55 level.