Short USDJPY: Bearish Bat + H&S + S/R + Missed Pivot
Updated
USDJPY is completing a bearish bat pattern near a strong support and resistance zone. We also have the neckline from a head and shoulders pattern striking through the S/R area for added resistance above the PRZ. SL is placed above 1.13XA with targets at .618CD and the unhit monthly pivot for November, 2015.
Confluence in the PRZ:
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Confluence in the PRZ:
- Bearish bat pattern completion
- Head and shoulders neckline
- S/R zone
- 2.5BC projection
- 1.786AB=CD
- Unhit November, 2015 pivot
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Note
Bigger Picture (4H):Trade active
Note
SL hit, -50 pips
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