2018Jun12 AUDJPY H4 Possible Bullish Bat

There is a possible bullish bat for AUDJPY. Upon D completion at 81.426 (88.6 of XA) and confirmation of the bullish bias, I will go long. Stop loss is just below point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative details are as follows:

Trade Setup: Possible Bullish Bat
Price Entry 81.426
SL 80.977 | SL pips 44.9
TP1 82.614 | TP1 pips 118.8
TP2 83.348 | TP2 pips 192.20
TP3 84.536 | TP3 pips 311.0
RRR1 2.65 | RRR2 4.28 | RRR3 6.93

Order cancelled:

This setup is invalidated with the formation of a candlestick closing below 81.426 (88.6 of XA).