USD/JPY Daily Analysis: Seizing the Bearish bat pattern 📉
Updated
Shalom, tradingviewers, from the holy city of Jerusalem! Where I live right now, in the neighbourhoods of kindness. Thanks to the Creator 😀 Its a great pleasure to share my precious insights with you as always.
Today, we embark on a journey, where the USD/JPY currency pair beckons with a compelling setup on the daily timeframe:
📌 Technical Analysis Highlights 📌
🦇 Bearish Bat Pattern: Picture this - the price action has masterfully crafted a bearish bat pattern, renowned for its impressive win rate. This pattern has gracefully steered the price towards a pivotal point at 149.500, none other than the D leg of this harmonic formation.
📉 Anticipating a Correction: Now, as we stand on the precipice of change, the RSI indicator chimes in from a highly oversold territory, casting its vote of confidence in this scenario. And there's more - a bearish divergence has been evolving over the past two months, reinforcing our bearish outlook.
📈 Trade Strategy 📈
With these potent technical signals as our guide, we take action. This daily analysis caters to those with a broader perspective - a long-term vision of the markets.
📊 Long-term Targets 📊
1️⃣ First Target: 144.750
2️⃣ Second Target: 141.000
3️⃣ Ultimate Target: 135.000
While this daily analysis provides a panoramic view, remember that shorter timeframes may offer opportunities with tighter stop losses. Trade wisely, manage risk diligently, and may your trades bring abundant success! 🍀
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you want more qualitative insights like this one 🌊🚀
Today, we embark on a journey, where the USD/JPY currency pair beckons with a compelling setup on the daily timeframe:
📌 Technical Analysis Highlights 📌
🦇 Bearish Bat Pattern: Picture this - the price action has masterfully crafted a bearish bat pattern, renowned for its impressive win rate. This pattern has gracefully steered the price towards a pivotal point at 149.500, none other than the D leg of this harmonic formation.
📉 Anticipating a Correction: Now, as we stand on the precipice of change, the RSI indicator chimes in from a highly oversold territory, casting its vote of confidence in this scenario. And there's more - a bearish divergence has been evolving over the past two months, reinforcing our bearish outlook.
📈 Trade Strategy 📈
With these potent technical signals as our guide, we take action. This daily analysis caters to those with a broader perspective - a long-term vision of the markets.
📊 Long-term Targets 📊
1️⃣ First Target: 144.750
2️⃣ Second Target: 141.000
3️⃣ Ultimate Target: 135.000
While this daily analysis provides a panoramic view, remember that shorter timeframes may offer opportunities with tighter stop losses. Trade wisely, manage risk diligently, and may your trades bring abundant success! 🍀
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you want more qualitative insights like this one 🌊🚀
Trade active
Note
the recent flash krash is an other confirmation to this setup. so it is wise to focus on selling opportunities until the price reach the target.
Note
My friend tntsunrise have similar toughts :)
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