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Will USDJPY Triangle Broke?

In the weekly chart of USDJPY there is a triangle:

Price stuck inside it for very long time (since mid-2015), and a few weeks ago it tested again the upper boundary of it and price formed a rejection candle as you can see on above chart.

Now it either moves down to the lower boundary of the triangle or after getting some reinforcement it will try again to break the triangle toward the upside, in the daily chart it looks like price starting to move up again as it formed a huge bullish rejection candle after a pullback:

If you want to bet on triangle break then you can long from here and aim somewhere around 118 as your first target or if you want to go extremely then you can target 125 or even higher, the stop loss will be around 107.5.

This position is very hard one, there will be another good opportunity to long USDJPY once it tested the lower boundary of the triangle.

Ahmad Noman Musleh
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