USD/JPY

The USD/JPY has been in a downtrend over the last few weeks. Price consolidated between my daily support and resistance lines which I have highlighted in blue. With the release of US Non Farm Payroll on Friday we saw the dollar weaken more. Having broken through my daily support the bearish candlestick suggests strong selling power and that consolidation is over. My SL will be half way of the bearish candlestick making this a 1:3 Risk reward trade