USDJPY 60min Rising Wedge Breakdown
USDJPY has been putting in this Rising Wedge Pattern. These tend to break to the downside. The Rising Wedge is also occurring at Resistance.
I'm waiting for the Break & Close out of the Wedge on the 60min before I enter.
Stops - 1 ATR Above the Breakdown Bar
Target #1 - Measured move of the Wedge
Target #2 - 78.6% Fib Retracement
You can you also use just purely Structure for Targets if that is what your plan says to do.
Best of Luck!
I'm waiting for the Break & Close out of the Wedge on the 60min before I enter.
Stops - 1 ATR Above the Breakdown Bar
Target #1 - Measured move of the Wedge
Target #2 - 78.6% Fib Retracement
You can you also use just purely Structure for Targets if that is what your plan says to do.
Best of Luck!
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