There is a potential Bat Harmonic pattern on USDJPY.
Price has slowed at the 0.886 retracement of XA with the BC Inversion also acting as resistance.
However we still need price to break the 1.272AB=CD level.
If we get that break, targets are the 0.382 and 0.618 retrace of AD leg.
Stop loss is defined as the 1.13 extension of XA.
Please like this idea if you find it useful.
Thanks!
Price has slowed at the 0.886 retracement of XA with the BC Inversion also acting as resistance.
However we still need price to break the 1.272AB=CD level.
If we get that break, targets are the 0.382 and 0.618 retrace of AD leg.
Stop loss is defined as the 1.13 extension of XA.
Please like this idea if you find it useful.
Thanks!
Note
Finally got the drop. Targets must be re-adjusted. Re-stretch green fibs to new Point D for the AD leg. Target 1 is around 111.030. 2nd target is around 110.530
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.