FX.co ★ Patterns AUDJPY | Australian Dollar (AUD) to Japanese Yen (JPY) Rate in the Forex market

The Double Bottom pattern has been formed on AUDJPY M5. Characteristics: the support level 97.51; the resistance level 97.59; the width of the pattern 8 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 8 points.

The Double Top reversal pattern has been formed on AUDJPY M5. Characteristics: the upper boundary 98.02; the lower boundary 97.71; the width of the pattern is 29 points. Sell trades are better to be opened below the lower boundary 97.71 with a possible movements towards the 97.56 level.

The Triple Bottom pattern has formed on the chart of AUDJPY M5. Features of the pattern: The lower line of the pattern has coordinates 96.32 with the upper limit 96.32/96.28, the projection of the width is 21 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 96.11, the price is most likely to continue the upward movement.

According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 96.74 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -27 pips.

On the chart of AUDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 97.36; the lower boundary 97.27; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 97.12 level.

The Double Top pattern has been formed on AUDJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 98.15 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 97.88; the lower boundary is 97.71. The width of the pattern is 16 points. In case of a break of the upper boundary 97.88, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The technical pattern called Head and Shoulders has appeared on the chart of AUDJPY M15. There are weighty reasons to suggest that the price will surpass the Neckline 97.71/97.67 after the right shoulder has been formed. So, the trend is set to change with the price heading for 97.44.

On the chart of AUDJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 97.19; the lower boundary 96.59; the width of the pattern 60 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 96.29 level.

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 96.90; the lower boundary is 96.77. The width of the pattern is 13 points. In case of a break of the upper boundary 96.90, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.