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

The technical pattern called Head and Shoulders has appeared on the chart of USDJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 149.70/149.66 after the right shoulder has been formed. So, the trend is set to change with the price heading for 149.51.

The Double Top reversal pattern has been formed on USDJPY M15. Characteristics: the upper boundary 149.57; the lower boundary 148.11; the width of the pattern is 141 points. Sell trades are better to be opened below the lower boundary 148.11 with a possible movements towards the 147.88 level.

The Double Bottom pattern has been formed on USDJPY D1. Characteristics: the support level 148.66; the resistance level 158.89; the width of the pattern 1023 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 1031 points.

The Double Bottom pattern has been formed on USDJPY M15; the upper boundary is 150.35; the lower boundary is 150.08. The width of the pattern is 28 points. In case of a break of the upper boundary 150.35, 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.

According to the chart of M5, USDJPY formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 150.38, the lower border is 150.07. The signal means that a short position should be opened after fixing a price below the lower border 150.07 of the Bearish Rectangle.

According to the chart of H1, USDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 151.03 and support 150.25. In case the resistance level 151.03 - 151.03 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M30, USDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 151.03 and support 150.25. In case the resistance level 151.03 - 151.03 is broken, the instrument is likely to follow the bullish trend.

The Double Bottom pattern has been formed on USDJPY M15; the upper boundary is 151.03; the lower boundary is 150.26. The width of the pattern is 78 points. In case of a break of the upper boundary 151.03, 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.

The Double Top reversal pattern has been formed on USDJPY H1. Characteristics: the upper boundary 151.00; the lower boundary 150.25; the width of the pattern is 78 points. Sell trades are better to be opened below the lower boundary 150.25 with a possible movements towards the 149.85 level.

The Double Top pattern has been formed on USDJPY M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 150.25 is broken, the downward movement will continue.