USDJPY: Structure/Advanced Pattern Formation Short

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We have a few things happening here on the USDJPY. First off we've had the completion of a Bearish Advanced Bat Formation at 105.88. Because the required risk to involve myself in this trade is outside of my allowable range, i've involved myself using structure & price action.

As we approach the pre-brexit highs, you'll notice that not only has the momentum started to slow, but we're also seeing bearish divergence on the RSI as we hit our resistance level.

Syndicate Members, if you haven't gotten to it already, this was one of the trades talked about in tonight's video so give it a look for a more detailed explanation.

Good luck in the markets this week traders! Let's trade smart and leave those emotions on the sidelines.

Akil Stokes
Chief Currency Analyst & Head Trading Coach
TradeEmpowered.com -The Premier Online Trading Education Company
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Stopped out right before the downward move. Always stinks when that happens