There's a double top pattern showing up on USDJPY on the 4hr time frame, which is a clear indication of a bearish move. While I was waiting for the neckline of the pattern to break, the last 4hr candle closed below 8ema, with AO indicator turning red.
This a double confirmation. As a result, I sold this pair at 108.79 with 70 pips Stop loss and 100 pips take profit.
Note that was a similar double top pattern on the 1hr, which has broken it's neckline and retested it.
Apply due diligence. Trade defensively not offensively.
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