Mandeep.Singh
Short

Bearish bat pattern on GBP/JPY

FX:GBPJPY   British Pound/Japanese Yen
186 2 4
We have the completion of a bearish bat pattern at the 0.886 retracement of XA. Stochastic is in oversold conidtions indicating a reversal. Targets set at retracement levels of 0.382 and 0.618.
Looks nice but I have my doubts. At the moment, I think the Pound gains strength while the yen is weakening + price broke recent structure + gbpyen has been a total bit** the last 2 weeks and destroys everything that looks nice :-(
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Appreciate the comment, lets see how it plays out. Price may be heading up but before it does that, might make a higher low and could do that at the target levels.
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