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 which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 92.86 – 92.86 and upper border 92.99 – 92.99. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 92.86, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 12 points.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 92.46; the lower boundary 92.35; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 92.20 level.

The Double Bottom pattern has been formed on NZDJPY M30. Characteristics: the support level 92.21; the resistance level 92.59; the width of the pattern 38 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 38 points.

The Triple Bottom pattern has formed on the chart of NZDJPY M5. Features of the pattern: The lower line of the pattern has coordinates 92.37 with the upper limit 92.37/92.31, the projection of the width is 13 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 92.24, the price is most likely to continue the upward movement.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 92.71; the lower boundary 92.52; the width of the pattern is 18 points. Sell trades are better to be opened below the lower boundary 92.52 with a possible movements towards the 92.37 level.

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 92.39 is broken, the downward movement will continue.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 92.73; the lower boundary 92.65; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 92.50 level.

The Bullish Flag pattern has been formed on the chart NZDJPY M15 which signals that the upward trend will continue. Signals: а break of the peak at 92.74 may push the price higher, and the rise will be the projection of the pole.

According to the chart of M15, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 92.12/92.31 and upper border is 92.58/92.31. The pattern width is measured on the chart at -46 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 92.08.