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

The Triple Top pattern has formed on the chart of the USDJPY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -5, support level -14, and pattern’s width 16. Forecast If the price breaks through the support level 147.68, it is likely to move further down to 147.75.

The Triple Top pattern has formed on the chart of the USDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 144.62/144.83 with the upper limit 145.24/145.22; the projection of the width is 62 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 144.62, the price is most likely to continue the downward movement.

The Bullish pennant pattern is formed on the USDJPY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 145.11, a further uptrend is possible.

The Double Bottom pattern has been formed on USDJPY M5. Characteristics: the support level 143.59; the resistance level 143.68; the width of the pattern 9 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 8 points.

The Triple Bottom pattern has formed on the chart of USDJPY M5. Features of the pattern: The lower line of the pattern has coordinates 143.82 with the upper limit 143.82/143.76, the projection of the width is 15 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 143.67, the price is most likely to continue the upward movement.

According to the chart of H1, USDJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 143.81 while the median line of the Neck is found at 142.70/143.33. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of USDJPY will go towards 144.21

According to the chart of M5, USDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 143.46 - 0.00 and support 143.38 – 143.38. In case the resistance level 143.38 - 143.38 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M30, USDJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 143.80 while the median line of the Neck is found at 142.70/143.59. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of USDJPY will go towards 144.10

According to the chart of M15, USDJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 142.70 while the median line of the Neck is set at 143.94/143.80. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of USDJPY will go towards 144.02.

The Double Bottom pattern has been formed on USDJPY M15. Characteristics: the support level 143.81; the resistance level 144.03; the width of the pattern 22 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 24 points.