USDJPY: How I am seeing this consolidation

FX:USDJPY   U.S. Dollar/Japanese Yen
741 3 14
What you see above is a bat that is about to be completed. I did not post about this bat earlier but I'm sure many of the other great posters here did pick up on it. I missed it so I didn't trade it for it's CD leg. But I could be trading it's completion though. Here's why....

In this chart, I show why i think that this bat MAY BE significant AND could be a good trade to take LONG. I certainly will be watching the PA to see where I can get LONG. Click on the chart below for more explanation.

USDJPY: How I am seeing this consolidation The 4HR View

I'm going to be looking for a good chance to go LONG when this bat completes. There's more consolidation to come and I don't believe there is any good chance that this pair will continue down in a down trend. The current atmosphere in this pair because of the pending NFP tomorrow is not conducive to any trend developing. So therefore, I am expecting another turnaround and for this to consolidate again back up.

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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