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

On the chart of the EURJPY 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 184.36, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 10 points.

According to the chart of M15, EURJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 184.23/184.35 whereas the upper border goes across 184.48/184.35. 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 EURJPY will breach the upper border to head for 184.57.

According to M5, EURJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 183.69/183.70 is broken out, the instrument is likely to move toward 183.85.

On the chart of the EURJPY M15 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 183.39, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 43 points.

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 184.50 – 184.50 and upper border 184.62 – 184.62. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on EURJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 184.50 is broken, the downward movement will continue.

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 183.68/183.71 with the upper limit 183.79/183.83; the projection of the width is 11 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 183.68, the price is most likely to continue the downward movement.

According to the chart of H1, EURJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 182.27 is likely to encourage a continuation of the downward trend.

The Triple Top pattern has formed on the chart of the EURJPY M30 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 18, support level -110, and pattern’s width 197. Forecast If the price breaks through the support level 182.61, it is likely to move further down to 184.12.

According to the chart of H1, EURJPY formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 182.27 is likely to encourage a continuation of the downward trend.