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

According to M30, AUDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 106.64/106.67 is broken out, the instrument is likely to move toward 106.97.

According to M15, AUDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 106.61/106.67 is broken out, the instrument is likely to move toward 106.89.

According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 106.14 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on AUDJPY M15. Characteristics: the support level 106.33; the resistance level 106.64; the width of the pattern 31 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 29 points.

The Bearish Flag pattern has been formed on AUDJPY at M5. The lower boundary of the pattern is located at 107.47/107.57 while the upper boundary lies at 107.57/107.67. The projection of the flagpole is 46 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 107.47 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the AUDJPY M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 107.47, a trader will be able to successfully enter the sell position.

According to the chart of M15, AUDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 107.72/108.44 whereas the upper border goes across 108.94/108.44. 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 AUDJPY will breach the upper border to head for 108.67.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 108.29/108.46 whereas the upper border goes across 108.58/108.46. 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 AUDJPY will breach the upper border to head for 108.61.

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 108.22 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on AUDJPY M30. Characteristics: the upper boundary 108.14; the lower boundary 107.80; the width of the pattern is 33 points. Sell trades are better to be opened below the lower boundary 107.80 with a possible movements towards the 107.50 level.