FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M5, NZDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 85.40 – 85.40 and upper border 85.57 – 85.57. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Bullish pennant signal – Trading instrument NZDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 85.60, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, NZDJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 85.02 – 85.02 and upper border 85.21 – 85.21. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of H1, NZDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 84.61/84.93 and upper border is 85.30/84.93. The pattern width is measured on the chart at -69 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 84.53.

According to the chart of M30, NZDJPY formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 84.61 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -69 pips.

The Double Top reversal pattern has been formed on NZDJPY M5. Characteristics: the upper boundary 85.05; the lower boundary 84.83; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 84.83 with a possible movements towards the 84.68 level.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 84.73 is likely to encourage a continuation of the downward trend.

According to the chart of M5, NZDJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 84.71 is likely to encourage a continuation of the downward trend.

According to the chart of M5, NZDJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 85.00 while the median line of the Neck is found at 84.85/84.91. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of NZDJPY will go towards 85.15

According to the chart of M15, NZDJPY produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 85.95 while the median line of the Neck is set at 86.24/86.20. 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 NZDJPY will go towards 86.43.