The USD/JPY rally has ended with this reversal pattern. The"bearish evening star" reversal pattern requires a bullish rally followed by a small spinning top candlestick and a sell-off. The pattern works best when the sell-off penetrates the majority of the bullish candlestick where the pattern began.
In this situation, price is now below the opening price of the first candle in the pattern making this an excellent example of a "bearish evening star".
Hi...I am following UJ and was waiting for any trend changing signal and agree with your analysisa nd thanks for sharing it....do you have a target in mind ? 107 ? 102 ? Look forward to your insights...Thanks....Regards
positionforex
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@sk12722, My current target is 107. Doesn't mean it will reach there but that is my target. You can all my trades for free including stops and targets by following me on Twitter. Use the Receive My Signals for Free link above!