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RizeSenpai
Nov 16, 2023 3:22 PM

USDJPY: 3 Line Strike at the PCZ of a Bearish Bat Short

USD/JPYOANDA

Description

Similarly to around the same time last year when USDJPY was at these levels, it had developed a 3 Line Strike at the PCZ of a Bearish Harmonic, and if it goes like last year, this will result in at least a few months of downside on this pairing.

There is also some Bearish Divergence formed on the RSI at this level.

Additionally, there is a much bigger Macro Bearish Butterfly setup that can be seen here:

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