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

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 93.10 is likely to encourage a continuation of the downward trend.

According to the chart of M15, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 92.84/93.01 and upper border is 93.22/93.01. The pattern width is measured on the chart at -38 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 92.79.

According to the chart of M5, NZDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 93.49 and support 93.35. In case the resistance level 93.49 - 93.49 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 93.49; the lower boundary 93.36; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 93.36 with a possible movements towards the 93.21 level.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 93.57 and 93.13 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 44 pips. Outlook: If the upper border 93.57 is broken, the price is likely to continue its move by 93.51.

The Bearish pennant pattern has formed on the NZDJPY M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 92.63, a trader will be able to successfully enter the sell position.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 93.85; the lower boundary 93.55; the width of the pattern 30 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 93.40 level.

The Double Bottom pattern has been formed on NZDJPY H1. Characteristics: the support level 93.71; the resistance level 93.92; the width of the pattern 21 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 22 points.

The Double Bottom pattern has been formed on NZDJPY M30. 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 93.92 is broken. The further movements will rely on the width of the current pattern 21 points.

According to the chart of H1, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 95.38 and 94.15 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 123 pips. Outlook: If the upper border 95.38 is broken, the price is likely to continue its move by 95.11.