The USDJPY is in a strong up trend, which has stalled during the past 5-6 months. The completion of this bullish bat pattern may signal a trend continuation. Everybody is looking to buy the USDJPY but the question is not "if" but "when".
The market is still trending sideways, between resistance zone around 122 and recent support at 118.35-75.
The completion of this bullish bat will secure a great entry price with a reasonable stop loss (70-80 pips -> 10-20 pips below 115.85) and amazingly high probability for a great profits if you hold the trade (or part of it if you take partial profits on the go) until it breach the resistance and form another leg higher of 1400-1500 pips
Well, that's my idea so let's wait and see how it goes in the coming month or two.
Feel free to share thoughts, comments, etc..
The market is still trending sideways, between resistance zone around 122 and recent support at 118.35-75.
The completion of this bullish bat will secure a great entry price with a reasonable stop loss (70-80 pips -> 10-20 pips below 115.85) and amazingly high probability for a great profits if you hold the trade (or part of it if you take partial profits on the go) until it breach the resistance and form another leg higher of 1400-1500 pips
Well, that's my idea so let's wait and see how it goes in the coming month or two.
Feel free to share thoughts, comments, etc..