Actual patterns
Patterns are graphical models which are formed in the chart by the price. According to one of the technical analysis postulates, history (price movement) repeats itself. It means that the price movements are often similar in the same situations which makes it possible to predict the further development of the situation with a high probability.
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Bullish Rectangle
was formed on 07.05 at 17:00:15 (UTC+0)
signal strength 3 of 5
According to the chart of M30, EURJPY formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 162.98 and support 162.59. In case the resistance level 162.98 - 162.98 is broken, the instrument is likely to follow the bullish trend.
