FX.co ★ AUDJPY M5: Triple Bottom

The Triple Bottom pattern has formed on the chart of AUDJPY M5. The lower boundary is at 109.54, while the upper boundary is at 109.66/109.63. The projected width is 13 points. The formation of the Triple Bottom pattern most likely indicates a change from a downward to an upward trend. If the confirmation resistance at 109.66 is broken, the price is likely to continue upward.