AUD.JPY - BULLISH CYPHER SETUP - 84.466
On the AUD.JPY 4hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 84.466 & 83.736
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into 86.600
Stop loss would be placed below X leg structure support.
Target 1 - 85.466
Target 2 - 86.073
The price reversal zone on this pair is between 84.466 & 83.736
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into 86.600
Stop loss would be placed below X leg structure support.
Target 1 - 85.466
Target 2 - 86.073
Comment:
1hr chart outlook as we start to make bullish RSI divergence
Comment:
Although price action broke about the C leg, the position is still valid.