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

The Double Bottom pattern has been formed on NZDJPY M30; the upper boundary is 93.39; the lower boundary is 93.14. The width of the pattern is 23 points. In case of a break of the upper boundary 93.39, 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 formed on the chart of NZDJPY M15. Features of the pattern: The lower line of the pattern has coordinates 93.39 with the upper limit 93.39/93.30, the projection of the width is 23 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 93.16, the price is most likely to continue the upward movement.

According to the chart of M5, NZDJPY formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 93.39, the lower border is 93.16. The signal means that a short position should be opened after fixing a price below the lower border 93.16 of the Bearish Rectangle.

The Triple Bottom pattern has formed on the chart of NZDJPY M5. Features of the pattern: The lower line of the pattern has coordinates 93.39 with the upper limit 93.39/93.27, the projection of the width is 22 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 93.17, the price is most likely to continue the upward movement.

The Double Bottom pattern has been formed on NZDJPY 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 93.39 is broken. The further movements will rely on the width of the current pattern 22 points.

On the chart of NZDJPY M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 94.37; the lower boundary 94.28; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 94.13 level.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart NZDJPY M15. Forecast: if the price breaks above the pattern high at 94.38, then traders will be able to place a long deal with the target at 94.61.

The Double Bottom pattern has been formed on NZDJPY M30. 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 94.36 is broken. The further movements will rely on the width of the current pattern 42 points.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart NZDJPY M15. Forecast: if the price breaks above the pattern high at 94.09, then traders will be able to place a long deal with the target at 94.32.

The Bullish pennant signal – Trading instrument NZDJPY M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 94.09, with the prospect of the next move being a projection of the flagpole height.