USDJPY - Bearish Bat

31 באוג׳ 2022

After weeks of waiting, the Bearish Bat Pattern on the USDJPY has finally been completed. Counter-trend traders, this could be your chance to engage.

However, there are 2 warning signs I must point out.
The completion of Point D exceeded the little red box known as the PRZ. A more conservative way is to wait for the 3-bar reversal to happen.

Lastly, tonight(depending on which city you are in), there is a US ADP report, and this Friday is Non-Farm Payroll week.