The USDJPY has fallen much lower after a very obvious and large Bearish Engulfing Bar formed last week. This Price Action trade setup was discussed live before it played out in the members forum by Johnathon and Ivoman.
Traders who entered this setup have been rewarded with a very nice risk reward. Price is now over extended and a retrace higher could be on the cards. Any rotations back higher could be looked upon for chances to sell this pair.
If you want to wacth a video Johnathon made live on this setup please go here: Live Price Action Setup
USDJPY 4HR CHART
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