JohnnyPurtoy98

USDJPY symmetrical triangle

FX:USDJPY   U.S. Dollar / Japanese Yen
The price has been forming a very large symmetrical triangle pattern , this pair needs to be watched carefully to see which way the price would breakout this triangle within the coming months.
Hi. Will we see a reversal at the 111.850..ish mark for a short Trade...? Thanks.
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JohnnyPurtoy98 Trader1968
@Trader1968, Yes, I believe this is possible as the RSI is slowly creeping to an overbought position as the price gets closer and closer to the resistance line of the triangle. However, it is always best to keep an eye on what happens and always place stops to reduce the risk of major losses as much as possible. I would be keeping everyone updated over the next few weeks and I would make sure to post if I spot any other signals created by the price on this pair.
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