USDJPY: Bat Pattern within Supply Zone
USDJPY broke new low yesterday and has recovered fully.
The price has seen retraced back and beyond the breakout level at 109.50 which shows that USDJPY is prone to selling.
A bat pattern is formed in the process and the price consolidated within the supply zone.
This would be a good opportunity for an intraday sell where the price is expected to fall further on safe-haven demand of the yen.
The price has seen retraced back and beyond the breakout level at 109.50 which shows that USDJPY is prone to selling.
A bat pattern is formed in the process and the price consolidated within the supply zone.
This would be a good opportunity for an intraday sell where the price is expected to fall further on safe-haven demand of the yen.
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