EUR.JPY - BEARISH CYPHER SETUP @ MARKET - 122.627
On the EUR.JPY Daily chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 122.627 & 126.339
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 at around 112.611
Stop loss would be placed above X leg structure resistance.
Target 1 - 117.437
Target 2 - 114.257
The price reversal zone on this pair is between 122.627 & 126.339
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 at around 112.611
Stop loss would be placed above X leg structure resistance.
Target 1 - 117.437
Target 2 - 114.257
Comment:
A nice daily candle close, potential for a push lower into today / Monday
Comment:
If you are looking to take this position short the setup is still valid.