FX.co ★ Patterns USDJPY | US Dollar (USD) to Japanese Yen (JPY) Rate in the Forex market

The Bullish pennant signal – Trading instrument USDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 161.16, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, USDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 162.64, the lower border is 162.57. The signal means that a long position should be opened above the upper border 162.64 of the Bullish Rectangle.

On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 162.52; the lower boundary 162.33; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 162.18 level.

The Bullish Flag pattern has been formed on the chart USDJPY M5 which signals that the upward trend will continue. Signals: а break of the peak at 161.93 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant signal – Trading instrument USDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 161.93, with the prospect of the next move being a projection of the flagpole height.

The Bullish Flag pattern has been formed on the chart USDJPY M15 which signals that the upward trend will continue. Signals: а break of the peak at 161.87 may push the price higher, and the rise will be the projection of the pole.

The Triple Top pattern has formed on the chart of the USDJPY M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -1, support level -7, and pattern’s width 14. Forecast If the price breaks through the support level 161.71, it is likely to move further down to 161.62.

The Double Top reversal pattern has been formed on USDJPY M15. Characteristics: the upper boundary 161.83; the lower boundary 161.70; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 161.70 with a possible movements towards the 161.48 level.

The Bullish pennant pattern is formed on the USDJPY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 161.79, a further uptrend is possible.

The Triple Bottom pattern has formed on the chart of USDJPY M5. Features of the pattern: The lower line of the pattern has coordinates 161.36 with the upper limit 161.36/161.34, the projection of the width is 11 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 161.25, the price is most likely to continue the upward movement.