EURJPY forms a Bullish BAT Pattern, good to buy on dips

11 Sep 2024

Harmonic pattern- Bullish BAT

Potential Reversal Zone (PRZ)- 155.45-50

Technicals-

The pair is trading below 34- and 55 EMA in the hourly chart.

The near-term resistance is around 156, a breach above targets 156.56/157/157.60. Overall bias remains weak as long as resistance 160 holds—major bullish continuation only above 163.87. The immediate support is at 155.50 any violation below will drag the pair to 154.40/154.

Indicator (1-hour chart)

CCI (14)- Bearish

CCI (50)- Bearish

Average directional movement Index - Bearish. All indicators confirm a mixed trend.

It is good to buy on dips around 155.58-60 with SL around 154.90 for a TP of 157.40.

11 Sep 2024

Catatan

Call got activated. Jumped more than 60 pips from our buy levels

11 Sep 2024

Catatan

Surged nearly 150 pips from our buy price.