According to my Technical analysis, USD/JPY is forming an Symmetrical Triangle on Daily Chart right now.

But there are three reasons this triangle's pattern may not work this time:

1. The price is at the middle of the triangle due to the U.S Fundamental last week, which was good.
2. If we use H4 Chart, we can see the price was trading in the range: 112.00 - 110.00
3. Traders wait for U.S. Interest Rate at Sept. 26

Obviously, I will using the range 112.00 - 110.00 to be in and out for some profit.

If the symmetrical triangle is to break out, I will be in for a long term plan, which is more about buy.

For reference: My system has a sell signal right now.


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