USDJPY has been on an uptrend and completed a bearish bat. On H4 timeframe, an RSI bearish divergence is seen. Upon confirmation of the bearish bias, I will go short. Stop loss is just above the X point. The take profit target is set at the 61.8 Fibonacci retracement level of the AD leg. Trade details are as follows:
Trade Setup: Bearish Bat
Price Entry 114.188
SL 114.600 | SL pips 41.2
TP2 112.467 | TP2 pips 172.1
RRR2 4.18
Trade Setup: Bearish Bat
Price Entry 114.188
SL 114.600 | SL pips 41.2
TP2 112.467 | TP2 pips 172.1
RRR2 4.18