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AndriyMoraru

Ascending Triangle on USD/JPY @ D1

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
AndriyMoraru Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Chart Patterns Triangle Ascending Triangle breakout chartpatterntrading
3
1
chartpattern triangle ascendingtriangle breakout chartpatterntrading
The daily chart of the USD/JPY currency pair has consolidated in the form of an ascending triangle following a long-term uptrend. It can now be used for a bullish breakout setup. The triangle's borders are marked with the yellow lines. My potential entry is marked with the cyan line. My potential take-profit level is marked with the green line. The stop-loss is to be set to the triangle's lowest point at 138.265. I will ignore bearish breakouts from this trend continuation pattern.
Trade active:
Long entry triggered on October 12 at 00:01 UTC. Open price = 146.151, SL = 138.265, TP = 152.603.
Trade closed: stop reached:
The stop-loss closed the trade today at 138.196 at 13:33 UTC.
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