Bearish Pin Bar on USD/JPY daily chart.

A pin bar formed today on the USD/JPY daily chart. This Pin bar pierces a key level and shows rejection of that level. One of the nice things about this pin bar is how it sticks out clear of surrounding price action and also has its body contained within the previous bar. These are thing we look for when trading pin bars.

If price should break below this Pin bar it could see price reverse and hopefully provide at least a 1:1 risk reward opportunity.

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As always, make your own trading decisions and best of luck!

Remember to be picky and wait for those high probability trades.