Bullish Bat indicates higher prices

Today a well-known Japanese economist stated that the 2nd largest economy has probably contracted recently. This calls BoJ to pump more money into the economy and which means less demand for Yen. On the other hand since the Greek capitulation, systematic risks in the financial markets have abated greatly and this again make Yen less attractive than 1 month ago.

With this Bat formation, I favor higher prices for this pair.

Good luck,

Ali Sharifazadeh, CFTe