FX.co ★ Patterns EURJPY | Euro (EUR) to Japanese Yen (JPY) Rate in the Forex market

The Triple Top pattern has formed on the chart of the EURJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 160.47/160.53 with the upper limit 160.67/160.69; the projection of the width is 20 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 160.47, the price is most likely to continue the downward movement.

The Triple Top pattern has formed on the chart of the EURJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 160.20/160.49 with the upper limit 160.64/160.63; the projection of the width is 44 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 160.20, the price is most likely to continue the downward movement.

The Double Top reversal pattern has been formed on EURJPY M5. Characteristics: the upper boundary 160.64; the lower boundary 160.20; the width of the pattern is 47 points. Sell trades are better to be opened below the lower boundary 160.20 with a possible movements towards the 160.05 level.

The Double Top reversal pattern has been formed on EURJPY M30. Characteristics: the upper boundary 160.14; the lower boundary 159.44; the width of the pattern is 71 points. Sell trades are better to be opened below the lower boundary 159.44 with a possible movements towards the 159.14 level.

On the chart of EURJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 160.15; the lower boundary 159.44; the width of the pattern 71 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 159.21 level.

According to the chart of M30, EURJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 158.69 – 158.69 and upper border 159.50 – 159.50. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M15, EURJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 159.50 and support 158.69. In case the resistance level 159.50 - 159.50 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on EURJPY M15. Characteristics: the upper boundary 159.47; the lower boundary 158.69; the width of the pattern is 81 points. Sell trades are better to be opened below the lower boundary 158.69 with a possible movements towards the 158.46 level.

The EURJPY M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 159.47, the Neckline and the upward angle are at 158.89/158.96. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of EURJPY will go towards 158.81.

The Bearish pennant pattern has formed on the EURJPY M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 155.83 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.