GBPJPY Triangle Pattern

In the 4H time frame, we can see a strong downtrend which has started to retrace in the form of an ascending triangle.

Price has been moving sideways in the triangle for a long time. If we take a deeper look at the last structure of price, we can see that it could not reach the upper level of the triangle in its last upside move.

Moreover, the previous trend was a downtrend. So, we can expect a downside breakout on the triangle.

First of all we should wait to see if breakout happens or not. Then if the pattern broken out, we need to wait for bearish candle closure in 1H below the pattern. Then we can enter a short position with two targets at 160.360 and 159.560