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

According to the chart of M15, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 87.70 and 87.49 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 21 pips. Outlook: If the upper border 87.70 is broken, the price is likely to continue its move by 87.82.

According to the chart of M15, NZDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 87.50 – 87.50 and upper border 87.70 – 87.70. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Bottom pattern has been formed on NZDJPY M5; the upper boundary is 87.28; the lower boundary is 87.13. The width of the pattern is 15 points. In case of a break of the upper boundary 87.28, 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 M15. Characteristics: the support level 87.46; the resistance level 87.61; the width of the pattern 15 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 16 points.

On the chart of NZDJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 87.75; the lower boundary 87.63; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 87.33 level.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 87.44 and 87.32 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 12 pips. Outlook: If the upper border 87.44 is broken, the price is likely to continue its move by 87.53.

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 87.32 is broken, the downward movement will continue.

On the chart of the NZDJPY M5 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 87.09, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 21 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 87.02 is broken, the downward movement will continue.

According to the chart of M15, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 86.88/87.02 and upper border is 87.16/87.02. The pattern width is measured on the chart at -28 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 NZDJPY breaches the lower border, the price could continue its move toward 86.79.