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lyl89
Oct 4, 2016 1:33 AM

AUDJPY - Bearish Bat Pattern on H4 Short

Australian Dollar/Japanese YenFXCM

Description

RBA interest rate decision will be announced in about 2 hours, keep a lookout for this pair.
If i/r maintains or increase, AUD/JPY will probably rise.
There are no other announcements at that time to cause indecision for the market, except for the RBA Rate Statement.

PRZ is tight at 22 pips, good risk to reward at 2.3 (TP1) and 4 (TP2) respectively.
I will update when pattern completes.

Comment

Price has entered the PRZ, one more point to hit.

Comment

If you're still in the trade, you will be profiting about 60 pips now.
Comments
lyl89
Title should be bearish*, not bullish.
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