TeamRehgal
Short

Yen channel short for 50 pips

FX:USDJPY   U.S. Dollar / Japanese Yen
80 0 1
NOTE: Small lot and limited risk with tight stop loss

The 2nd leg completed at the 1618 of the 1st leg retrace.

Barb wire dojis show a lot of indecision on the 4Hr.
Strong Bearish divergence on the RSI .

Sold at 103.80 where the 20ema has confluence on the 1Hr chart.
Target at 103.19 at bottom of the channel & 38.2% retrace of the 2nd leg.
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