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 Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 89.15 – 89.15 and upper border 89.26 – 89.26. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Bearish pennant pattern has formed on the NZDJPY M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 89.17; the projection of the flagpole height is equal to 18 pips. In case the price breaks out the pattern’s bottom of 89.17, the downtrend is expected to continue for further level 89.02.

According to the chart of M30, NZDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 89.72/89.43 whereas the lower border goes across 89.00/89.43. The pattern width is measured on the chart at 72 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 89.43 is broken, the price could continue its move toward 89.73.

According to the chart of M5, NZDJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 89.28 while the median line of the Neck is set at 89.38/89.37. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of NZDJPY will go towards 89.52.

The Double Top reversal pattern has been formed on NZDJPY M15. Characteristics: the upper boundary 89.55; the lower boundary 89.43; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 89.43 with a possible movements towards the 89.21 level.

According to the chart of H1, NZDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 89.62/89.21 whereas the lower border goes across 88.62/89.21. The pattern width is measured on the chart at 100 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 89.21 is broken, the price could continue its move toward 89.61.

According to the chart of M5, NZDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 89.08/89.01 whereas the lower border goes across 88.96/89.01. The pattern width is measured on the chart at 12 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 89.01 is broken, the price could continue its move toward 89.16.

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 88.89/88.95 with the upper limit 89.06/89.07; the projection of the width is 17 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 88.89, the price is most likely to continue the downward movement.

The Triple Bottom pattern has formed on the chart of the NZDJPY M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 89.18/89.16.

According to the chart of M15, NZDJPY formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 89.18 - 0.00 and support 88.99 – 88.99. In case the resistance level 88.99 - 88.99 is broken, the instrument is likely to follow the bearish trend.