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USDJPY Triangle Breakout And Long Opportunity

USDJPY Triangle Breakout And Long Opportunity

We have one Long position on USDJPY. Anka breaks the triangle on the bigger charts. DXY is gaining weight.

We add Long at the market price 110.870  Stop Loss: Below 110.700 Targeting: 111.100 111.300 111.800

Technically, backtests are showing that price retests the broken line 87%. We have a bearish Gartley pattern on the smaller charts at 110.04-110.100. We may see a retracement towards 110.800. This retest can be used as a buying opportunity as well.

Breakout of 111.300 will trigger the bullish move and 112.800 will be the target of the pair.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

USDJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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