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PateSkpate

USDJPY 60min Rising Wedge Breakdown

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
PateSkpate  
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY usdjpyshort Rising Wedge breakout breakouttrading 60min 1hr swingtrading swing-trade swingtrade swingshort breakoutbar
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usdjpy usdjpyshort risingwedge breakout breakouttrading 60min 1hr swingtrading swing-trade swingtrade swingshort breakoutbar
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!
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