FX.co ★ Patterns EURJPY | Euro (EUR) to Japanese Yen (JPY) Rate in the Forex market

According to the chart of M30, EURJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 159.21 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has formed on the chart of the EURJPY M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 160.57/160.36.

According to the chart of M5, EURJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 159.93 while the median line of the Neck is set at 160.09/160.08. 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 EURJPY will go towards 160.23.

According to the chart of M5, EURJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 159.95 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -21 pips.

The Double Bottom pattern has been formed on EURJPY M5; the upper boundary is 160.36; the lower boundary is 160.00. The width of the pattern is 37 points. In case of a break of the upper boundary 160.36, 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 Triple Bottom pattern has been formed on EURJPY M5. It has the following characteristics: resistance level 159.52/159.51;support level 159.34/159.27; the width is 18 points. In the event of a breakdown of the resistance level of 159.52, the price is likely to continue an upward movement at least to 159.48.

According to the chart of M5, EURJPY formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 159.33 – 159.33 and upper border 159.52 – 159.52. In case the lower border is broken, the instrument is likely to follow the downward trend.

On the chart of EURJPY H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 161.16;the lower boundary 160.17; the width of the pattern 99 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 159.77 level.

The Triple Top pattern has formed on the chart of the EURJPY M5. Features of the pattern: borders have an ascending angle;the lower line of the pattern has the coordinates 160.97/161.06 with the upper limit 161.16/161.13; the projection of the width is 19 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 160.97, the price is most likely to continue the downward movement.

The Triple Bottom pattern has formed on the chart of the EURJPY M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 160.93/160.61.