On the GBP.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 125.995 & 124.840
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 129.771
Stop loss would be placed below X leg structure support.
Target 1 - 127.691
Target 2 - 128.806
The price reversal zone on this pair is between 125.995 & 124.840
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 129.771
Stop loss would be placed below X leg structure support.
Target 1 - 127.691
Target 2 - 128.806
Trade closed manually