Symmetrical Triangle on NZD/JPY @ D1

This symmetrical triangle pattern, which has formed following a considerable uptrend swing on the daily chart of the NZD/JPY currency pair, provides a bullish breakout setup. This formation offers an opportunity to go long in case of an upside breakout. The triangle's borders are marked with the yellow lines. The potential entry level is shown with the cyan line. The potential take-profit level is where the green line is. The stop-loss can be set to the opposite border at the based of the triangle - at 76.326.

Trade active:

Long position triggered today at 1:21 UTC at 77.964 with stop-loss at 76.326 and take-profit at 79.665 (subject to change).

Trade closed: target reached:

Position reached take-profit of 79.585 today at 8:22 UTC.