GBP.JPY - Bearish Cypher Pattern - 157.646

Short

British Pound / Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound / Japanese Yen

bearish short sell ukforexsignals cypherpattern harmonicpatterns gbpjpy

On the GBP.JPY 15min chart we have a potential short opportunity at the D leg completion of a bearish Cypher Pattern

The price reversal zone on this pair is between 157.646 & 157.987
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 Pattern placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 156.575
Stop loss would be placed above X leg structure resistance

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