Bearish Bat Is En Route
#USDJPY 4HR Chart
After last weeks breakout of the bearish channel, price seems to be in full swing riding up to the next structure level of 1.30100 (Price Reversal Zone) where we could come into some friction before looking for a short entry. Alongside that's a bearish bat looks like it's in the mix with its D leg looking to complete at the PRZ aswell. Once the criteria is met we shall enter a short position down into structure. Target 1 (38.2%) and Target 2 (61.8%), But if all fails and the Bat get invalidated we could expect price to move up towards the 1.3200 level.
After last weeks breakout of the bearish channel, price seems to be in full swing riding up to the next structure level of 1.30100 (Price Reversal Zone) where we could come into some friction before looking for a short entry. Alongside that's a bearish bat looks like it's in the mix with its D leg looking to complete at the PRZ aswell. Once the criteria is met we shall enter a short position down into structure. Target 1 (38.2%) and Target 2 (61.8%), But if all fails and the Bat get invalidated we could expect price to move up towards the 1.3200 level.
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