Long EURJPY: Bat + Wolfe + AB=CD + Divergence (2X) + TL Support

Long

Euro / Japanese Yen (FX:EURJPY)

Updated

FX:EURJPY Euro / Japanese Yen

Bat glennmercer gmercerfx EURJPY Wolfe Wave ww confluence macd_divergence rsi_divergence Divergence Relative Strength Index (RSI) Moving Average Convergence / Divergence (MACD) PRZ AB=CD targetline

batpattern glennmercer gmercerfx eurjpy wolfewaves ww confluence macd_divergence rsi_divergence divergence relativestrengthindex macd prz abcdpattern targetline

EURJPY is nearing the PRZ of a series of bullish patterns. A medium term bullish trendline may add support to the reversal zone. To add to the bullish bias, MACD and RSI have both printed bullish divergence. Entry is placed in the center of the PRZ with SL below structure lows and Bat X point and target at .618CD.

Confluence in the PRZ:

Bullish Bat
Bullish Wolfe Wave
Bullish AB=CD
Bullish MACD Divergence
Bullish RSI Divergence
Bullish Trendline Support

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