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AndriyMoraru

Descending Channel on USD/JPY @ D1

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
AndriyMoraru Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Chart Patterns Descending Channel breakout Parallel Channel
7
0
chartpattern descendingchannel breakout parallelchannel
The descending channel formation on the daily chart of USD/JPY provides an opportunity to trade a bullish breakout. The channel's borders are marked with the yellow lines. The potential entry level is shown with the cyan line. The potential take-profit level is marked with the green line. I will set my stop-loss to the low of the breakout bar (not shown on the chart). I will ignore bearish breakouts from this channel.
Trade active:
Entry hit at 113.352 with SL = 112.388 and TP = 118.174.
Trade closed: stop reached:
Closed by stop-loss at 3:24 UTC today.
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