USDJPY is in a recent uptrend and near completion of a bearish bat around a trendline resistance. There is an RSI divergence seen. Upon pattern completion and confirmation of the bearish bias, I will go short. Stop loss is just above the X point. The take profit target is set at the 61.8 Fibonacci retracement level of the AD leg. Tentative details are as follows:
Trade Setup: Possible Bearish Bat
Price Entry 114.013
SL 114.283 | SL pips 27.0
TP2 112.957 | TP2 pips 105.6
RRR2 3.91
Trade Setup: Possible Bearish Bat
Price Entry 114.013
SL 114.283 | SL pips 27.0
TP2 112.957 | TP2 pips 105.6
RRR2 3.91