USDJPY Chart Technical Outlook moves higher within the BC leg of a Bat formation
Continued selling pressure from the 157.71 swing high resulted in USD/JPY trading to the lowest level in 12 days.
Buyers have emerged close to the projected AB leg of a Bat formation at 154.52. Bespoke resistance is located at 156.82. We have a supply zone between 156.97 and 157.70. The pattern would be negotiated on a move through the previous swing high at 157.71.
Resistance: 156.82 (bespoke), 156.97 (supply), 157.71 (swing high)
Support 154.52 (AB leg), 152.52 (BAT), 151.86 (swing low)
