USDJPY Chart Technical Outlook will complete a bullish Bat formation at 152.52
Although USD/JPY posted net losses yesterday, all price action was confined to the upper half of Wednesday’s range. This resulted and an indecisive inside Harami candle.
From a technical perspective, we look to be forming a bullish Bat pattern. This will be completed on a move to 152.52. We are currently trading within the BC leg.
Resistance: 156.99 (supply), 157.26 (bespoke), 157.71 (swing high)
Support: 155.35 (yesterday’s base), 154.54 (swing low), 152.52 (Bat)
