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

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 93.42; the lower boundary 92.44; the width of the pattern is 99 points. Sell trades are better to be opened below the lower boundary 92.44 with a possible movements towards the 92.29 level.

According to the chart of M15, NZDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 91.97/91.84 whereas the lower border goes across 91.66/91.84. The pattern width is measured on the chart at 31 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 91.84 is broken, the price could continue its move toward 92.07.

The Bullish Flag pattern has been formed on NZDJPY at H1. The lower boundary of the pattern is located at 91.63/91.63, while the higher boundary lies at 91.97/91.97. The projection of the flagpole is 63 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 91.97 is broken, the price will move further upwards.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 91.35 is likely to encourage a continuation of the downward trend.

On the chart of the NZDJPY M30 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 91.18, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 47 points.

The Double Top pattern has been formed on NZDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 91.55 is broken, the downward movement will continue.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart NZDJPY M5. Forecast: if the price breaks above the pattern high at 91.64, then traders will be able to place a long deal with the target at 91.79.

The Bullish pennant graphic pattern has formed on the NZDJPY M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 91.79.

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 90.87 – 90.87 and upper border 91.07 – 91.07. 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 M15; the upper boundary is 91.28; the lower boundary is 91.19. The width of the pattern is 10 points. In case of a break of the upper boundary 91.28, 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.