AUD/JPY - Bullish Bat
Hi guys, here's another one to add to the watch list! This time I'm eyeing ups potential bullish bat on the Aussie-Yen. The Yen has managed to gain some strength across the board already today, but with this pair in particular price has recently formed into a ranging environment on the 4 hour chart. With this in mind, I will be keeping an eye on the 4 hour chart specifically for a reversal signal.
As always risk should be minimum 1:2, but with pattern we should ideally be looking for 1:3.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
As always risk should be minimum 1:2, but with pattern we should ideally be looking for 1:3.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
Note
As you can see below, the 4 hour chart is now at a level of support- a potentially key area for a long entry. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.