AUDJPY Bullish breakout soon?

FX:AUDJPY   Australian Dollar / Japanese Yen
85 7 4
Hello traders,

This pair has been forming bullish daily candles at strong support zone and a triangle. I expect a bullish breakout since the price action and volume suggests break out to the upside. There is also RSI divergence.

Good Luck!
Comment: Price retesting the broken triangle. Another opportunity for long. such case, the chance of going back into the triangle is lower than bounce back up?
Saravan gcplau
The daily candle should not close below that. Otherwise it's most probably a fake breakout.
gcplau Saravan
Tks, just don't like that engulfing
I believe a view has an optimal range. That means even with the same R/R, should I go 20/50pips or 50/125pips...etc. Am I too greedy?
Saravan gcplau
It's a daily break out. It should go at least top of the range around 86.20. But it all depends if you are a long or short term trader. The first profit taking can be done @81.80 and the stop loss to BE. Stop loss should be below 77.60. Thank you.
gcplau Saravan
Thanks so much! Very well said.
Good Job! Bracket taking is also important, what's the suggested range of SL/PT?
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