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.
Can someone explain the catalyst for the huge drop on a japanese holiday??? This was a strong set up for long!!!
+1 Reply
TomHall theforexscrub
There are many subjective reasons why price dropped. many assume it is to do with consumer confidence results out of Japan.
still can hold usdjpy long????
+1 Reply
TomHall BrianYeeSengFu
Personally I didn't take this pair long as we needed extra confirmation prior to entry.
Love u Tom godbless
+1 Reply
TomHall ic3frogg
Have a great week! :-)
Nice confluence there Tom, good stuff!
+1 Reply
TomHall lukeboland
Thank you Luke.
Thanks tom.. as always great analysis...
+1 Reply
TomHall piptamil
Thanks very much, have a great day.
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