FX.co ★ Patterns USDJPY | US Dollar (USD) to Japanese Yen (JPY) Rate in the Forex market

The Double Bottom pattern has been formed on USDJPY 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 156.22 is broken. The further movements will rely on the width of the current pattern 25 points.

According to the chart of M5, USDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 156.64 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -25 pips.

The Double Bottom pattern has been formed on USDJPY M15. Characteristics: the support level 156.85; the resistance level 157.33; the width of the pattern 48 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 45 points.

According to the chart of M5, USDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 157.53/157.65 whereas the upper border goes across 157.78/157.65. 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 USDJPY will breach the upper border to head for 157.80.

On the chart of USDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 157.07; the lower boundary 156.84; the width of the pattern 23 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 156.69 level.

The Double Top reversal pattern has been formed on USDJPY M5. Characteristics: the upper boundary 157.15; the lower boundary 156.74; the width of the pattern is 42 points. Sell trades are better to be opened below the lower boundary 156.74 with a possible movements towards the 156.59 level.

According to the chart of M5, USDJPY formed the Head and Shoulders pattern. The Head’s top is set at 155.48 while the median line of the Neck is found at 155.16/155.21. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of USDJPY will go towards 155.06.

The Double Bottom pattern has been formed on USDJPY 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 154.90 is broken. The further movements will rely on the width of the current pattern 44 points.

On the chart of USDJPY M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 154.90; the lower boundary 154.46; the width of the pattern 44 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 154.16 level.

The Bullish pennant signal – Trading instrument USDJPY M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 154.88, with the prospect of the next move being a projection of the flagpole height.