GBP.JPY - BEARISH CYPHER SETUP - 134.329

Short

British Pound / Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound / Japanese Yen

ukforexsignals sell short bearish harmonicpatterns xabcd cypherpattern

On the GBP.JPY 1hr chart we have a potential short opportunity's at the D leg completion of bearish Cypher setup.

The price reversal zone on this pair is between 134.329 & 135.171
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 131.553
Stop loss would be placed above X leg structure resistance.

Target 1 - 133.030
Target 2 - 132.250

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