Symmetrical Triangle on USD/JPY @ D1

The long-term downtrend prevailing on this currency pair has consolidated in the form of a symmetrical triangle. It can now be used as a continuation pattern for a bearish breakout trading opportunity. My potential entry will be placed at the cyan line, which is located at 10% of the triangle's base width below the lower border. My take-profit will be at the green line, which is located at 100% of the triangle's base width below the lower border. I will set my stop-loss to the triangle's upper apex (134.767).

Order avbruten:

Trade setup cancelled due to the pattern invalidation.