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Harmonic pattern Formed- Bullish Bat Pattern
Potential Reversal Zone (PRZ) -121.50
- USD/JPY made a high of 121.48 (trend line joining 121.22 and 121.48) and retreated till 120.28 from that level. It is currently trading at 120.67.
- On the downside major support is around 119.60 and break below will drag the pair till 119/118.60 in short term. The pair's minor support is around 120.
- Any break above 121.50 confirms further bullishness, jump till 122.40 is possible.
It is good to Sell on rallies around 120.90-95 with SL around 121.51 for the TP of 119.60/119.
