FX:AUDJPY   Australian Dollar/Japanese Yen
Aussie-Yen showing us a bearish bat running coherently with the weekly channel. Retracements showing a strong bat pattern- B and C points are below the close of price but still on the wick. As always, long as price remains on the wick and has not been surpassed by the body of a following candle, the pattern is still valid. The D point is also approaching a retest of previous resistance and the weekly channel, providing a great PRZ (potential reversal zone).

Bat ratios:

AB: 0.382-0.5
BC: 0.382-0.886
CD: 1.618-2.618
XD: 0.886
Download your FREE forex eBook at www.sixfigurecapital.com/2.html

Kyle McQuade, student of Six Figire Capital

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