JvdB99
Short

USDJPY long-term trading

FX:USDJPY   U.S. Dollar / Japanese Yen
the USDJPY has made an upward movement in the longer term. This trend started on 26 May 2018 and the price has risen rapidly thereafter.
The trend line (blue) was respected several times during this uptrend.

Personally, I think that this uptrend will stop in the long term and make way for a downtrend. The price does not make new higher heights anymore and this has created a triangle pattern .
The price is also close to a respected zone. This zone has been reached several times, but has never been broken.
This has not been possible since 9 May 2017.
Because the triangle is at a height and close to the '' short zone '', I think the price will go the other way soon.

When the triangle is broken or the '' short zone '' is touched, we can take a short position. I currently expect some upcoming movement within the triangle. When it is broken, I expect the newdowntrend to start.

I have chosen the TP (Target Profit) of 111,870. This is the first respected zone where a turnaround often occurs.
Trade closed: target reached: the price has achieved the target profit. When you followed my analysis and took a short position, we can confirm the following profits:

TP = 113.620 - 111.870
TP = 185 pips!!

Congratulations for the people who took the trade!
wish i took it
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