SO this is the second bearish trade set-up on USDJPY and the idea of this strategy is since the market has just broken major support structure and most times it usually comes back to re-test that structure which will now act as resistance, before continuing the bearish momentum. If you are gonna be taking this trade then there's 2 ways you can place your stops, the standard way is stops must go above previous structure however, that will only give you a r:r ratio of just 1:1 but you can also place your stops above the 61.8 fibonacci retracement level so whichever you are comfortable with. Personally, I wont be trading this pair using this strategy as I already have a potential bearish pattern also setting up on this pair as i mentioned in my previous post.
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