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yitiancai

watch it and prepare to short USD/JPY around 114.20:bat pattern

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
yitiancai Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY
11
0
trendanalysis harmonicpatterns chartpattern usdjpy
Now USD/JPY is bullish, however , I am watching for a short opportunity around(114.20-114.40). A potential bat pattern is waiting for us.

The bat pattern is determined by X A B C D. Now the B(113) IS near 50% retracement of XA

The potential reverse zone: D(114.20-114.40) must be 88.6% retracement of XA and 2.618 times of BC.

If the price reach there, I will consider to sell USD/JPY . Target:113 Stop loss:114.750

Wait and patient
Comment:
RSI divergence
snapshot
Comment:
The power of RSI divergence. bat pattern doesn't have chance to formed
snapshot
Comment:
seems to missing 150pips
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