themarketzone

Above support but still within the PRZ of a bearish Bat

FX:NZDJPY   New Zealand Dollar/Japanese Yen
$NZDJPY turned 81 to support zone by closing above it at the end of Friday's session.
The bearish Bat pattern is still in play but the fact that the price bounced twice on top of the Fast SMA line and couldn't close below it is a strength signal for $NZDJPY.

83 is the top structure zone of the trading range marked in the chart.
A close above 83 could send $NZDJPY higher towards the 200 SMA line.
A close below 81 will trigger the bearish Bat pattern

Tomer, The MarketZone
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