Trading idea for the USD/JPY pair

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Yen has been trading in a narrowing range for quite some time now, but yesterday, the quote was able to break out of the upper limit, the cause of which is the pin bar pattern that has captured buy stop orders over the past few days.

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To fully escape the triangle, as well as raise USD / JPY in the market, use the pin bar as pivot, and then place profit at 107.

Profitability for this strategy is 3:1.

Of course, controlling the risks should not be left out, so as to avoid any losses.

Best of luck!

The material has been provided by InstaForex Company - www.instaforex.com