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

According to the chart of M5, NZDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 92.35, the lower border is 92.24. The signal means that a long position should be opened above the upper border 92.35 of the Bullish Rectangle.

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 91.82 – 91.82 and upper border 92.03 – 92.03. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Triple Bottom pattern has been formed on NZDJPY M30. It has the following characteristics: resistance level 91.64/91.33; support level 91.14/91.17; the width is 50 points. In the event of a breakdown of the resistance level of 91.64, the price is likely to continue an upward movement at least to 91.45.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 91.64 and 91.02 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 62 pips. Outlook: If the upper border 91.64 is broken, the price is likely to continue its move by 91.49.

The Double Bottom pattern has been formed on NZDJPY M15; the upper boundary is 91.64; the lower boundary is 91.15. The width of the pattern is 50 points. In case of a break of the upper boundary 91.64, 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 91.79 is broken. The further movements will rely on the width of the current pattern 16 points.

According to M15, NZDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 92.94/92.93 is broken out, the instrument is likely to move toward 93.15.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 92.93; the lower boundary 92.86; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 92.86 with a possible movements towards the 92.71 level.

The Triple Bottom pattern has been formed on NZDJPY M5. It has the following characteristics: resistance level 93.12/93.02; support level 92.94/92.94; the width is 18 points. In the event of a breakdown of the resistance level of 93.12, the price is likely to continue an upward movement at least to 93.08.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 93.66; the lower boundary 93.58; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 93.43 level.