FxWirePro
Short

GBP/JPY forms Bullish Cypher pattern, good to sell on rallies

FX:GBPJPY   British Pound/Japanese Yen
375 3 4
Harmonic Pattern Formed- Bullish Cypher pattern

Potential reversal Zone (PRZ)- 187

The Pair has made a high of 186.97 and started to retreat from that level. Overall trend is still bearish as long as resistance 187.50 holds.

Any break above 187 will take the pair to next target 187.50/188.25 in short term.

On the downside major support is around 185.40 and any break below 185.40 will drag the pair till 184.80/184.40.

It is good to sell on rallies around 186.20-25 with SL around 187 for the TP of 185.45/184.50
maybe the C point is not valid.
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FxWirePro tntsunrise
a year ago
Ok thank you
Reply
prashantfx
a year ago
shorted @ 186.280 and pair going up :-( finger crossed
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