USDJPY Sell Off Triangle and Trend Line Touch (Hourly)
Resistance area confirmed by triangle bottom and upper trend line touch from prior pivot highs
t1: 1.272 extension coincides with support zone from left of the chart
t2: lower trend line coincides with July lows
S/L above triangle zone
Risk/Reward 1:2.8
t1: 1.272 extension coincides with support zone from left of the chart
t2: lower trend line coincides with July lows
S/L above triangle zone
Risk/Reward 1:2.8
Trade closed: target reached
Comment:
For t1. Exited trade once pullback back to top of channel cancelled possibility of price to reach t2 in the short term.
Comment:
Price eventually reached target 2 after massive pullback towards entry.