USDJPY - DAILY BEARISH BAT PATTERN - FIB - AB=CD - EVEN HANDLE

Hi Traders, after yesterdays news release we seen a jump in USD - I wanted to share this potential shorting opportunity here on USDJPY with you before the start of next week. I have previously posted this chart, I just wanted to refresh everyone again on this opportunity as time has past I have been able to add more to my analysis.

I have marked an entry zone green box, as we can see here there as some extra things to look at in our analysis. This is a valid BAT as it has gone past the 50.0% for the B leg but it hasnt touched the 61.8% only just.

What we can see here are the following things which adds more signals to help build a better case for going short.

• ADVANCED PATTERN COMPLETION @ D - 88.6%
  FIBONACCI CONFLUENCE 88.6% - FIB EXTENSION A TO B MOVE - MINOR 1.414%
  CLOSE TO EVEN HANDLE 124.000
  HARMONIC PATTERN CLOSE TO D COMPLETION - AB=CD - EQUAL LENGTH MOVE - PURPLE
  STRUCTURE BASED MOVE - COMING UP TO TEST THE STRUCTURE USUALLY INDICATES STRUCTURE BASED TRADERS WILL SELL
  

As always traders on screen color coded for easy to understand

• Green Entry: 88.6% - Make sure to check your Data on your trading platform as the entry may be slightly lower than Trading View its the difference between BID and ASK or Buy and Sell trades.
  
  Stops: Minimum Level needs to be above X leg 1.113%
  
  Initial Target 1: 38.2% Retrace From A to D completion - Target to be adjusted on D Completion
  
  Initial Target 2: 61.8% Retrace From A to D completion - Target to be adjusted on D Completion
  

Keep your limit order just above the target level to ensure your target is reached.

Second stop will be moved to the Break even - Entry level when target 1 is reached

Good Luck and happy trading next week.