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

The Bullish pennant signal – Trading instrument AUDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 100.23, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 100.44/99.87 whereas the lower border goes across 99.06/99.87. The pattern width is measured on the chart at 138 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 99.87 is broken, the price could continue its move toward 100.02.

The Bearish pennant pattern has formed on the AUDJPY M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 99.89 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 AUDJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 100.88; the lower boundary 100.54; the width of the pattern 34 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 100.24 level.

According to the chart of M15, AUDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 100.58/100.71 whereas the upper border goes across 100.90/100.71. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDJPY will breach the upper border to head for 100.93.

The Double Top pattern has been formed on AUDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 100.76 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDJPY M15. 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 100.29 is broken. The further movements will rely on the width of the current pattern 14 points.

The Double Bottom pattern has been formed on AUDJPY M5; the upper boundary is 100.68; the lower boundary is 100.51. The width of the pattern is 18 points. In case of a break of the upper boundary 100.68, 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.

According to the chart of M15, AUDJPY formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 101.46/100.86 whereas the lower border goes across 100.27/100.86. The pattern width is measured on the chart at 119 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 100.86 is broken, the price could continue its move toward 101.08.

According to the chart of M5, AUDJPY formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 100.88, the lower border is 100.62. The signal means that a short position should be opened after fixing a price below the lower border 100.62 of the Bearish Rectangle.