GBP.JPY - BULLISH CYPHER SETUP - 140.595
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 140.595 & 138.498
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 146.934
Stop loss would be placed below X leg structure support .
Target 1 - 143.596
Target 2 - 145.447
The price reversal zone on this pair is between 140.595 & 138.498
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 146.934
Stop loss would be placed below X leg structure support .
Target 1 - 143.596
Target 2 - 145.447
Comment:
Comment:
Comment:
Although this pair hasn't seen huge movements since the new year, the setup is still valid and potentially something to watch next week.