# USD/JPY Symmetrical Triangle Breakout (November 11, 2013)

Source: https://www.tradersway.com/resources/market-info/usd-jpy-symmetrical-triangle-breakout-november-11-2013/
Language: en
Updated: 2013-11-11

After months of consolidation, USD/JPY finally seems ready to break out of its symmetrical triangle. As you can see on the pair’s daily chart, a long green candlestick has already closed above the triangle resistance, hinting that an uptrend is in the works.



The pattern is approximately a thousand pips in height, spanning from a high of 103.00 in May to a low of 93.00. Further rallies could last by roughly 1000 pips as well, but this could take place for months.



![USD/JPY Symmetrical Triangle Breakout (November 11, 2013)]



Going long at market with a stop below the triangle support and a target of roughly 1000 pips could be a good position setup with a high return on risk.



*By Kate Curtis from Trader’s Way*