SmartTradingFX
Short

USDJPY: Potential Bat Pattern

FX:USDJPY   U.S. Dollar/Japanese Yen
515 8 15
Potential Bat Pattern @ 116.75

Still a little way off but by next week we may have pushed up into previous support which may now turn resistance!

I have also highlighted possible extended targets which is the next major level from the weekly chart.

Please hit that like button and continue to show your support! It means alot!

Ric

Well spotted buddy. I like the potential on this one with extended target
Reply
SmartTradingFX journeyofarookie2.0
9 months ago
Thanks bud appreciate that! Yeah when your entering in the direction of the trend these extended targets may offer some more pips! The only issue with this setup is we put in a double bottom on the daily, so price did find support just above the next major level, so if we do get a chance to enter on this then a retest of that level may be more suitable!

Ric
Reply
I_see_BTC PRO
9 months ago
Looking really good. On the daily, a simple 0.618 retracement of the larger move down puts us right in the same area for your bat completion.

snapshot
Reply
SmartTradingFX I_see_BTC
9 months ago
Thank you! Nice so some more confirmation that price may react at this level! Good spot!

Ric
Reply
I_see_BTC PRO
9 months ago
And the targets on this cypher may well give a good entry to ride a long up to the bat completion
Reply
I_see_BTC PRO
9 months ago
Few pips away to a Cypher pattern
+1 Reply
Jim-FX
9 months ago
Nice analysis.
Reply
SmartTradingFX Jim-FX
9 months ago
Thank you Jim
Reply
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