Seems like it's Bat Week this week! In this episode we have a small bearish
number on the dollar-yen. A daily charts
shows price has retraced as far back as 38.2% of the boom at the end of 2016 following DT's election triumph! A solid support level
, price looks to be entering a possible ranging market, heading into consolidation before the recent retracement either reverses or continues. Our D leg on this pattern lands slightly below a resistance level
where price has recently bounced. The harmonic
dictates that price should bounce again at this level while remaining in consolidation. Price is currently only at the C-coordinate and this pattern may not even complete itself, however it's good to be aware that it's there. Stop loss above the previous high, TP at the pivot
level in the middle of the potential range. Happy Trading!