FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Triple Top pattern has formed on the chart of the USDJPY M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 148.96/149.13 with the upper limit 149.34/149.31; the projection of the width is 38 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 148.96, the price is most likely to continue the downward movement.

According to the chart of M5, USDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 148.49/148.90 and upper border is 149.31/148.90. The pattern width is measured on the chart at -82 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and USDJPY breaches the lower border, the price could continue its move toward 148.75.

According to the chart of M5, USDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 148.44/148.79 and upper border is 149.13/148.79. The pattern width is measured on the chart at -69 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and USDJPY breaches the lower border, the price could continue its move toward 148.64.

The Triple Bottom pattern has formed on the chart of USDJPY M5. Features of the pattern: The lower line of the pattern has coordinates 149.12 with the upper limit 149.12/149.11, the projection of the width is 71 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 148.41, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on USDJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 149.12 is broken. The further movements will rely on the width of the current pattern 71 points.

The USDJPY M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 150.19, the Neckline and the upward angle are at 149.80/149.76. 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 USDJPY will go towards 149.61.

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.