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glennmercer

UJ Short From Resistance Zone

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
glennmercer  
FX:USDJPY   U.S. Dollar / Japanese Yen
Bearish Bat Harmonic Patterns Support and Resistance priceaction
1
0
bearishbat harmonicpatterns supportandresistance priceaction
USDJPY has been showing weakness since last week after a decline from around 124.3. After reaching Bearish Bat target T2 it has retraced .618 to a high resistance area. We may start looking to short the pair with targets at the 1.272 and 1.618 extensions from the previous swing high. Stop loss around 124.

T1: 121.4
T2: 120.7
SL: 124.0
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