USD/JPY: will the yen catch a “bat”?

USD/JPY: will the yen catch a “bat”?


SELL 106.65

SL 107.2 TP1 105.85

TP2 105.5 TP3 104.85

On the daily chart of USD/JPY, there’s the short-term consolidation in the 106.65-107.45 range. A break of its lower border and return of the pair outside the uptrend channel will increase the risks of downtrend’s resumption. On the other hand, successful advance above resistance at 107.45 will allow bulls to develop a correction.


On H1, there’s a “Spike and ledge” pattern. A break of the lower border of the ledge near 106.65 will trigger the “Bat” pattern with a target at 88.6%.




Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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