FIBSII

USDJPY Structure Importance

FX:USDJPY   U.S. Dollar / Japanese Yen
Hey all,

Here is a potential Bat Pattern setup on USDJPY 4H chart. It's currently at a decision point that I play close attention to. We are currently at the B structure zone and the market is putting up some resistance. I like to pay attention to this zone as if we do indeed break and close above this level there is a much higher chance of the trade completing.

Just thought I'd make a post showing what I'm looking for ahead of a pattern completion. Of course - if we get a completed Bat I will make another post with my targets.

Comments

any updates mate
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FIBSII tethbit7
@tethbit7, This trade got entered but shortly after my stop loss was hit, potentially had to do with the news event. Doesn't mean it was a bad trade or a trade I shouldn't have taken, just one of the losers! But hey, one loser bringers us closer to a winner :) Will be looking out for the next trade today.
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thanks man very helpful
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FIBSII tonyferrino
@tonyferrino, Thanks for the support! :)
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