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

According to the chart of M15, NZDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 88.22 and support 88.10. In case the resistance level 88.22 - 88.22 is broken, the instrument is likely to follow the bullish trend.

The Bullish pennant pattern is formed on the NZDJPY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 88.24, a further uptrend is possible.

The Triple Top pattern has formed on the chart of the NZDJPY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -2, and pattern’s width 7. Forecast If the price breaks through the support level 88.07, it is likely to move further down to 88.01.

The Bullish Flag pattern has been formed on NZDJPY at M15. The lower boundary of the pattern is located at 87.57/87.47, while the higher boundary lies at 87.65/87.55. The projection of the flagpole is 40 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 87.65 is broken, the price will move further upwards.

The Bullish pennant signal – Trading instrument NZDJPY M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 87.65, with the prospect of the next move being a projection of the flagpole height.

The Triple Bottom pattern has formed on the chart of NZDJPY M5. Features of the pattern: The lower line of the pattern has coordinates 87.24 with the upper limit 87.24/87.02, the projection of the width is 29 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 86.95, the price is most likely to continue the upward movement.

According to the chart of H1, NZDJPY formed the Head and Shoulders pattern. The Head’s top is set at 87.45 while the median line of the Neck is found at 86.98/87.04. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of NZDJPY will go towards 86.64.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 87.30; the lower boundary 87.15; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 87.15 with a possible movements towards the 87.00 level.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 87.24; the lower boundary 87.12; the width of the pattern is 12 points. Sell trades are better to be opened below the lower boundary 87.12 with a possible movements towards the 86.97 level.

On the chart of the NZDJPY H1 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 86.19, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 56 points.