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

According to the chart of M30, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 90.30/90.58 and upper border is 90.84/90.58. The pattern width is measured on the chart at -54 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 90.28.

According to the chart of M15, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 90.30/90.58 and upper border is 90.84/90.58. The pattern width is measured on the chart at -54 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 90.36.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 90.42/90.60 and upper border is 90.85/90.60. The pattern width is measured on the chart at -43 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 90.45.

According to M5, NZDJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 90.78/90.70 is broken out, the instrument is likely to move toward 90.85.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 90.92 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -53 pips.

According to the chart of M15, NZDJPY formed the Head and Shoulders pattern. The Head’s top is set at 91.77 while the median line of the Neck is found at 91.52/91.49. 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 NZDJPY will go towards 91.26.

The Bearish Flag pattern has been formed on NZDJPY at M5. The lower boundary of the pattern is located at 91.51/91.55 while the upper boundary lies at 91.57/91.61. The projection of the flagpole is 14 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 91.51 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the NZDJPY M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 91.51, a trader will be able to successfully enter the sell position.

On the chart of the NZDJPY M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 91.62, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 13 points.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 91.60; the lower boundary 91.52; the width of the pattern 8 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 91.37 level.