USD/JPY: SHORT - Possible H + S. Waiting for trend-line break

TECHNICALS:

1.
- Possible H + S bearish reversal pattern forming within significant R/S zone
- "Head" of pattern was formed after resistance was found at the 111 Psychological level
- Second shoulder is currently forming with the shoulder neckline found @ 110.84
- Lower neckline of pattern @ 110.59 would need to be broken with bearish continuation to confirm this pattern

2.
- Bearish RSI Divergence
- The bullish move from 28/06/2018 was printed as a bearish move with lower lows and lower highs being printed

3.
- Large bearish rejection candle off the 111 Psychological level with a long upper wick and small lower body seen on the 4h chart indicating possible top?

FUNDAMENTALS:

- Trade war between USA/China/EU not showing any signs of an agreement yet/ramping down.
- On Sunday it is claimed that Donald Trump said he believed the nuclear disarmament deal with North Korea may not work out, if this is true this could be very bad news for the US and a repeat of previous meetings with North Korea.

STRAT:
- Sell stop order set @ 110.48 (10 pips below neckline of H + S pattern)
- SL @ 111.10 (5 pips above "head" of pattern), alot of volatility at the moment therefore setting very tight SL's
- TP yet to confirm

**Appreciate thoughts and comments, constructive criticism only please!
Thanks for reading,

James

Comment:

** IDEA SHOULD BE SHORT - Apologies

Comment:

- Perfect rejection seen at shoulder neckline resistance
- Expecting drop soon

Comment:

2 False break candles seen on the 4h chart

Comment:

- Neckline of the H + S pattern currently acting as support, price has however broken the ascending trend-line on the hourly/4h charts
- Wait for a break of the neckline level to place a short trade