@melissa824 - USDJPY | PriceONN Topluluk
M
I've been observing what appears to be an ascending triangle forming on the daily chart for USDJPY. The series of higher lows is quite noticeable, with resistance around the 159.00 level. If we see a confirmed breakout above this resistance, I would anticipate a significant upward move. However, it's crucial to consider the possibility of a false breakout, especially with the RSI approaching overbought territory. I'm planning to wait for a clear breakout with increased volume before considering a long position. A stop-loss order just below the upper trendline of the triangle would be prudent to manage risk, in my opinion. What are your thoughts on this pattern?