FX.co ★ Actual patterns. Technical analysis and trading recommendations

On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 158.28; the lower boundary 158.15; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 158.00 level.

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 158.01 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.

According to the chart of M5, USDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 159.29 and 158.93 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 36 pips. Outlook: If the upper border 159.29 is broken, the price is likely to continue its move by 159.24.

On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 159.29; the lower boundary 158.97; the width of the pattern 32 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 158.82 level.

On the chart of the USDJPY D1 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 157.52, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 239 points.

The Triple Top pattern has formed on the chart of the USDJPY D1. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 157.52/158.29 with the upper limit 159.91/160.04; the projection of the width is 239 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 157.52, the price is most likely to continue the downward movement.

According to the chart of M15, USDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 159.86, the lower border is 159.66. The signal means that a long position should be opened above the upper border 159.86 of the Bullish Rectangle.

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 159.86 and support 159.66. In case the resistance level 159.86 - 159.86 is broken, the instrument is likely to follow the bullish trend.

The Double Top reversal pattern has been formed on USDJPY M15. Characteristics: the upper boundary 159.86; the lower boundary 159.66; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 159.66 with a possible movements towards the 159.43 level.

The Triple Top pattern has formed on the chart of the USDJPY M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 159.66/159.73 with the upper limit 159.86/159.86; the projection of the width is 20 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 159.66, the price is most likely to continue the downward movement.