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

The Double Bottom pattern has been formed on NZDJPY M5. 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 91.67 is broken. The further movements will rely on the width of the current pattern 27 points.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 91.25/91.40 and upper border is 91.57/91.40. The pattern width is measured on the chart at -32 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and NZDJPY breaches the lower border, the price could continue its move toward 91.25.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 91.32 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on NZDJPY M15. Characteristics: the support level 91.30; the resistance level 91.52; the width of the pattern 22 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 20 points.

The Double Top pattern has been formed on NZDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 91.78 is broken, the downward movement will continue.

The Bullish pennant pattern is formed on the NZDJPY M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 91.80, a further uptrend is possible.

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 91.44/91.56 with the upper limit 91.80/91.75; the projection of the width is 36 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 91.44, the price is most likely to continue the downward movement.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 91.76; the lower boundary 91.56; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 91.56 with a possible movements towards the 91.41 level.

According to the chart of M30, NZDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 92.40, the lower border is 92.11. The signal means that a long position should be opened above the upper border 92.40 of the Bullish Rectangle.

According to the chart of M15, NZDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 92.40, the lower border is 92.11. The signal means that a long position should be opened above the upper border 92.40 of the Bullish Rectangle.