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

The Bullish pennant graphic pattern has formed on the NZDJPY H1 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 91.64.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 91.04/91.10 whereas the upper border goes across 91.15/91.10. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of NZDJPY will breach the upper border to head for 91.25.

On the chart of NZDJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 91.15; the lower boundary 90.97; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 90.75 level.

The Double Top pattern has been formed on NZDJPY M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 90.82 is broken, the downward movement will continue.

On the chart of NZDJPY M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 91.14; the lower boundary 90.82; the width of the pattern 32 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 90.60 level.

The Double Top reversal pattern has been formed on NZDJPY M30. Characteristics: the upper boundary 91.12; the lower boundary 90.75; the width of the pattern is 39 points. Sell trades are better to be opened below the lower boundary 90.75 with a possible movements towards the 90.45 level.

The Triple Top pattern has formed on the chart of the NZDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 90.95/90.99 with the upper limit 91.04/91.04; the projection of the width is 9 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 90.95, the price is most likely to continue the downward movement.

According to the chart of M5, NZDJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 91.08 while the median line of the Neck is found at 90.83/91.00. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDJPY will go towards 91.23

The Bearish Flag pattern has been formed on the chart NZDJPY M5 which signals that the downward trend will continue. If the price breaks below the low at 91.00, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (10 points).

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 91.00, a trader will be able to successfully enter the sell position.