michaelfehser
Short

USD/JPY false break reversal setup

FX:USDJPY   U.S. Dollar/Japanese Yen
Textbook false break reversal setup forming on USD/JPY             . Daily inside bar at the upper bollinger band followed by a false break to the upside. Going to enter this trade on the close of the 7/19 candle, placing my stop a little above the high of that day, and my take profit down at the lower band.

These setups are slightly rare, but extremely powerful; they often result profits of between 7-10 times your risk. For reference, see the long setup on 7/8. Ended with a R:R of 7.35. Happy trading.
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