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

The Double Bottom pattern has been formed on EURJPY 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 163.22 is broken. The further movements will rely on the width of the current pattern 22 points.

The Double Top pattern has been formed on EURJPY M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 163.68 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on EURJPY M5. Characteristics: the upper boundary 163.78; the lower boundary 163.68; the width of the pattern is 11 points. Sell trades are better to be opened below the lower boundary 163.68 with a possible movements towards the 163.53 level.

The Triple Bottom pattern has formed on the chart of EURJPY M5. Features of the pattern: The lower line of the pattern has coordinates 163.48 with the upper limit 163.48/163.47, the projection of the width is 12 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 163.36, the price is most likely to continue the upward movement.

According to the chart of M5, EURJPY formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 164.18 – 164.18 and upper border 164.36 – 164.36. In case the upper border is broken, the instrument is likely to follow the upward trend.

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 164.18/164.24 with the upper limit 164.36/164.35; the projection of the width is 18 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 164.18, the price is most likely to continue the downward movement.

The Double Top reversal pattern has been formed on EURJPY M5. Characteristics: the upper boundary 164.36; the lower boundary 164.18; the width of the pattern is 17 points. Sell trades are better to be opened below the lower boundary 164.18 with a possible movements towards the 164.03 level.

According to the chart of M5, EURJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 162.74 and support 162.57. In case the resistance level 162.74 - 162.74 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M5, EURJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 161.78 and 161.37 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 41 pips. Outlook: If the upper border 161.78 is broken, the price is likely to continue its move by 161.72.

The Double Bottom pattern has been formed on EURJPY 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 162.58 is broken. The further movements will rely on the width of the current pattern 13 points.