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Art_of_Trading
Jul 25, 2017 6:24 PM

GBPJPY: BAT PATTERN Short

British Pound/Japanese YenFXCM

Description

The price is bullish today on FX:GBPJPY 1H chart. It is getting close to a major resistance level at 146.260. Buyers have to take their profits somewhere and sellers have to step into the trade. The best level to that is close to resistance area. Moreover, the bat pattern is formed, which give entry and exit points.
T1 - 38.2
T2- 61.8
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