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Short NZDJPY: Possible Bat Complete at Trendline Resistance

Short
New Zealand Dollar / Japanese Yen (FX:NZDJPY)  
glennmercer  
FX:NZDJPY   New Zealand Dollar / Japanese Yen
NZDJPY glennmercer gmercerfx S/R Bat confluence PRZ Trend Lines Support and Resistance
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nzdjpy glennmercer gmercerfx s_r batpattern confluence prz trendline supportandresistance
NZDJPY may potentially complete a bearish bat at significant trendline resistance and a S/R zone. If price does reach this level before invalidating the bat patterns, there is a chance price could reach down past the X leg and complete a series of bullish patterns. Entry is placed at the bottom of the PRZ with targets at .618CD and bat/crab completion. SL is placed above 1.13XA.

Confluence in the PRZ:
  • Bearish bat
  • Trendline resistance
  • S/R Zone

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