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

The Triple Top pattern has formed on the chart of the NZDJPY M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 87.86/88.00 with the upper limit 88.12/88.16; the projection of the width is 26 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 87.86, the price is most likely to continue the downward movement.

On the chart of the NZDJPY M15 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 87.86, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 26 points.

According to the chart of M15, NZDJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 87.24 while the median line of the Neck is set at 88.07/87.94. 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 88.17.

According to the chart of M5, NZDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 88.04, the lower border is 87.94. The signal means that a long position should be opened above the upper border 88.04 of the Bullish Rectangle.

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

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 89.37 is broken, the downward movement will continue.

According to the chart of H1, NZDJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 88.77 while the median line of the Neck is set at 89.44/89.45. 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 89.85.

The Double Bottom pattern has been formed on NZDJPY H1. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 89.85 is broken. The further movements will rely on the width of the current pattern 79 points.

The Triple Bottom pattern has formed on the chart of the NZDJPY M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 89.24/89.20.

The Double Bottom pattern has been formed on NZDJPY M5. Characteristics: the support level 89.13; the resistance level 89.22; the width of the pattern 9 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 10 points.