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nboone
Feb 15, 2016 11:15 PM

USDJPY Bearish Bat Pattern D leg completion Short

FX:USDJPY60
U.S. Dollar/Japanese YenFXCM

Description

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UJ found resistance at the 0.88 D leg of a bearish Bat pattern on the 1 hour chart. With the break of the trend line associated with the recent up move and the MACD/Stochastic crossovers, this could result in a nice retracement.

SL: 114.80
TP1: 113.277 (.382 retracement)
TP2: 112.395 (.618 retracement)
hamonicsBatTrend Linesretracement
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