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

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.

The Bullish pennant signal – Trading instrument NZDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 86.64, with the prospect of the next move being a projection of the flagpole height.

The Bullish Flag pattern has been formed on the chart NZDJPY M5 which signals that the upward trend will continue. Signals: а break of the peak at 86.64 may push the price higher, and the rise will be the projection of the pole.

According to the chart of M5, NZDJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 86.28 – 86.28 and upper border 86.47 – 86.47. In case the lower border is broken, the instrument is likely to follow the downward trend.