JohnConaway

Long $USDJPY if B point is closed above

FX:USDJPY   U.S. Dollar/Japanese Yen
8 months ago
We have a *Potential*Bat here that is not yet active. If you are OK with playing C-D legs then you can wait for a convincing close above $103.4 B point. ABCD completes at $105.846 & full pattern completes at 106.868. Traditional way to play this is to wait for full completion & enter short on confirmed reaction (negative divergence or strong push from completion point). I have also added a 161.8% fib extension on there to if this extends to a Crab ($107.441). Also to note, we may be retracing a completed Bullish crab ext as well, marked by green 38.2% $109.127. Other confluence points marked in pink. Multiple ways to play this depending on movement, stay nimble.
8 months ago
Comment: $USDJPY chart
snapshot
Tracking a smaller Bat that lines up well with minimum target or larger Bat in Yellow. ~$105.846-105.9 for retrace
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