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joelduque

2018Oct29 USDJPY H1 Bearish Bat

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
joelduque  
FX:USDJPY   U.S. Dollar / Japanese Yen
Harmonic Patterns Bat Fibonacci
1
0
harmonicpatterns batpattern fibonacci
USDJPY has been on a downtrend and completed a bearish bat. Price is also seen near a trendline resistance. Upon confirmation of the bearish bias, I will go short. Stop loss is just above the X point while the take profit target is set at the 61.8 Fibonacci retracement level of the leg AD. Trade details are as follows:

Trade Setup: Bearish Bat
Price Entry 112.525
SL 112.723 | SL pips 19.8
TP2 111.816 | TP2 pips 70.9
RRR2 3.58
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