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

The Bearish Flag pattern has been formed on the chart USDJPY M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 155.73, traders should enter the market.

The Bearish pennant pattern has formed on the USDJPY M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 155.73 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Triple Top pattern has formed on the chart of the USDJPY M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 155.61/155.79 with the upper limit 155.94/155.93; the projection of the width is 33 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 155.61, the price is most likely to continue the downward movement.

According to the chart of M5, USDJPY formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 154.82, the lower border is 154.63. The signal means that a long position should be opened above the upper border 154.82 of the Bullish Rectangle.

The Double Bottom pattern has been formed on USDJPY M30. Characteristics: the support level 154.77; the resistance level 155.81; the width of the pattern 104 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 110 points.

The Double Bottom pattern has been formed on USDJPY M5; the upper boundary is 155.81; the lower boundary is 154.75. The width of the pattern is 104 points. In case of a break of the upper boundary 155.81, 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.

According to the chart of M5, USDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 156.27/156.44 whereas the upper border goes across 156.57/156.44. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of USDJPY will breach the upper border to head for 156.59.

According to the chart of M5, USDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 156.53 and 156.38 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 15 pips. Outlook: If the upper border 156.53 is broken, the price is likely to continue its move by 156.61.

According to the chart of M15, USDJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 156.26 and support 156.17. In case the resistance level 156.26 - 156.26 is broken, the instrument is likely to follow the bullish trend.

The Double Top pattern has been formed on USDJPY M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 156.18 is broken, the downward movement will continue.