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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Inverse Head and Shoulder
was formed on 01.07 at 22:00:37 (UTC+0)
signal strength 3 of 5
According to the chart of M30, USDJPY formed the Inverse Head and Shoulder pattern. The Head’s top is set at 143.80 while the median line of the Neck is found at 142.70/143.59. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of USDJPY will go towards 144.10
