TomHall
Long

USD.JPY - BULLISH BAT & CYPHER SETUPS - 103.653 & 103.634

FX:USDJPY   U.S. Dollar / Japanese Yen
On the USD.JPY 1hr chart we 2 potential trade opportunity's at the D leg completion of a Bullish Cypher & Bat setup.

Bullish Cypher Setup ( Light Blue ) - D leg completion 103.653
Target 1 - 104.365
Target 2 - 104.813

Bullish Bat Setup ( White ) - D leg completion 103.634
Target 1 - 104.354
Target 2 - 104.798

Bullish Bat Setup: Stop loss would be placed below X leg structure support .
Bullish Cypher Setup: Stop loss would be placed below X leg structure support .
Comment: RSI bullish divergence on the 1hr timeframe could be a strong indication price is looking to reverse at the 103.20 support level.
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Can someone explain the catalyst for the huge drop on a japanese holiday??? This was a strong set up for long!!!
+1 Reply
TomHall TOP theforexscrub
There are many subjective reasons why price dropped. many assume it is to do with consumer confidence results out of Japan.
Reply
still can hold usdjpy long????
+1 Reply
TomHall TOP BrianYeeSengFu
Personally I didn't take this pair long as we needed extra confirmation prior to entry.
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Love u Tom godbless
+1 Reply
TomHall TOP ic3frogg
Have a great week! :-)
Reply
Nice confluence there Tom, good stuff!
+1 Reply
TomHall TOP lukeboland
Thank you Luke.
Reply
Thanks tom.. as always great analysis...
+1 Reply
TomHall TOP piptamil
Thanks very much, have a great day.
Reply
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