TRADE SET-UPS

Bearish inside pin bar forms on USD/JPY Daily chart

Price has been consolidating recently on the USD/JPY pair. We can see a bunch of inside bars and now, today, a nice looking pin bar was printed on our daily chart, which is in line with the reversal bar printed on the weekly chart at the end of last week.

If price breaks below this pin bar then we could see some downward movement from here.

It is worth noting also that we are now at the highs of 2007, so it will be interesting to see if this is the start of significant trend reversal.
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2015-06-17 USDJPY pin barAs always, make your own trading decision, use stops and the very best of luck with your trading.

 

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