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

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.

The Double Bottom pattern has been formed on NZDJPY M5. Characteristics: the support level 83.47; the resistance level 83.60; the width of the pattern 13 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 13 points.

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 83.43 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -36 pips.

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 84.14 is broken, the downward movement will continue.

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 84.14 is broken, the downward movement will continue.

According to M30, NZDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 84.44/84.55 is broken out, the instrument is likely to move toward 84.85.

The Double Bottom pattern has been formed on NZDJPY M5; the upper boundary is 83.82; the lower boundary is 83.71. The width of the pattern is 10 points. In case of a break of the upper boundary 83.82, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.