Symmetrical Triangle on USD/JPY @ W1

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
This symmetrical triangle formation on the weekly chart of USD/JPY             offers an opportunity for a sell trade in case of a bearish breakout. The triangle's borders are marked with the yellow lines. My potential entry point is marked with the cyan line. My take-profit level is shown with the green line. I will set the stop-loss level to the high of the breakout bar (not shown on the chart).
Order cancelled: Cancelled the trade setup yesterday because the triangle has been broken to the upside.
You can find a lot of detail about my trading ideas in my blog - You will also find useful tools to find, build, and trade similar patterns - all completely free.
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