FX.co ★ Patterns NZDJPY | New Zealand Dollar (NZD) to Japanese Yen (JPY) Rate in the Forex market

The Double Bottom pattern has been formed on NZDJPY M15; the upper boundary is 88.59; the lower boundary is 88.49. The width of the pattern is 11 points. In case of a break of the upper boundary 88.59, 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 Bottom pattern has been formed on NZDJPY 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 88.59 is broken. The further movements will rely on the width of the current pattern 11 points.

The Double Bottom pattern has been formed on NZDJPY M5. Characteristics: the support level 88.49; the resistance level 88.56; the width of the pattern 7 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 Double Bottom pattern has been formed on NZDJPY M15. 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 87.54 is broken. The further movements will rely on the width of the current pattern 11 points.

The Double Bottom pattern has been formed on NZDJPY M5. Characteristics: the support level 87.53; the resistance level 87.71; the width of the pattern 18 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 18 points.

On the chart of NZDJPY H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 87.99; the lower boundary 87.87; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 87.47 level.

According to the chart of M5, NZDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 87.92, the lower border is 87.80. The signal means that a long position should be opened above the upper border 87.92 of the Bullish Rectangle.

The Double Bottom pattern has been formed on NZDJPY M5. Characteristics: the support level 87.33; the resistance level 87.46; the width of the pattern 13 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 14 points.

The Double Top pattern has been formed on NZDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 87.27 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on NZDJPY M15. Characteristics: the support level 87.30; the resistance level 87.85; the width of the pattern 55 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 53 points.