USD/JPY Bearish Trend Continuation - Ichimoku Setup

2019-11-04 03:45:09

We got an initial move up last week before JPY strength took over and gave us a bearish kumo breakout.

We've had a decent drawback here and look to have formed a good rejection candle at tenken sen.

As long as we don't have any large gaps at market open, I'm looking to enter a sell and aim for price structure lows as I've drawn out.

This setup has a decent risk to reward ratio, depending on your broker, your chart may look slightly different that this.

IF we fail to hold our bearish confirmations, we have a large gap at open, or price close above tenkan sen, this setup may become invalidated.