USD/JPY Symmetrical Triangle BreakoutUS Dollar vs. Japanese YenFX:USDJPYKABHI_TA_TRADINGSetup Overview: USD/JPY is approaching a potential bullish breakout on the daily chart. Price has been recovering since September, rising from around 153.00. The chart shows higher lows and lower highs. These moves form a symmetrical triangle. The trendlines are converging as price moves within the pattern. Buyers are now testing the upper trendline. A clear daily close above this level would support the bullish view. A breakout followed by a successful retest could push price towards 161.00 and 162.50. 📊 TRADING PLAN: Bullish Scenario: A clear daily close above triangle resistance would strengthen the bullish setup. Buyers should then hold the breakout level during a retest. If buying pressure continues, the first target is 161.00. The next target is 162.50. The gap between US and Japan interest rates may also support USD/JPY. Strong demand for the US dollar could provide further support. However, possible BOJ rate hikes remain a risk for buyers. Bearish Scenario: If buyers fail to hold the breakout, price could fall back inside the triangle. A further drop towards the 157.60–157.00 support zone would weaken the bullish setup. A clear daily close below 157.00 could signal more downside. It would also weaken the current bullish outlook. What are the Key Technical Levels? 1st Resistance: 161.00 2nd Resistance: 162.50 Support Zone: 157.00–157.60 Chart Pattern: Daily Symmetrical Triangle Market Outlook: Potential Bullish Breakout and Retest What are the Key Fundamental Drivers? The Federal Reserve has a much higher interest rate than the Bank of Japan. The Fed's October rate range remained at 3.75%–4.00%. Meanwhile, the BOJ held its rate at 1.25%. This gap may continue to support the US dollar. It also makes dollar carry trades more attractive. Weakness in global stock markets has also increased demand for safe-haven currencies. The US dollar has benefited from this demand. This helped the dollar recover its early post-election losses. #USDJPY #Forex #TradingView ⚠️ DISCLAIMER: This is purely for educational purposes. It is not financial advice. Forex and commodity trading involves risk. You must manage your own risk and use appropriate stop losses.