FX.co ★ Patterns USDJPY | US Dollar (USD) to Japanese Yen (JPY) Rate in the Forex market

On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 163.90; the lower boundary 163.66; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 163.51 level.

The USDJPY M30 formed the Head and Shoulders pattern with the following features: The Head’s top is at 163.85, the Neckline and the upward angle are at 163.69/163.69. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of USDJPY will go towards 163.39.

The Triple Top pattern has formed on the chart of the USDJPY M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 1, support level -9, and pattern’s width 18. Forecast If the price breaks through the support level 163.60, it is likely to move further down to 163.57.

The USDJPY M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 163.78, the Neckline and the upward angle are at 163.67/163.67. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of USDJPY will go towards 163.52.

The Bearish pennant pattern has formed on the USDJPY M15 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 163.58 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

On the chart of USDJPY H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 163.88; the lower boundary 163.66; the width of the pattern 22 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 163.26 level.

According to the chart of M15, USDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 163.23 and 163.04 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 19 pips. Outlook: If the upper border 163.23 is broken, the price is likely to continue its move by 163.35.

According to the chart of M5, USDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 163.04 is likely to encourage a continuation of the downward trend.

On the chart of the USDJPY 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 162.52, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 8 points.

According to the chart of M5, USDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 162.44 and support 162.40. In case the resistance level 162.44 - 162.44 is broken, the instrument is likely to follow the bullish trend.