GBP.JPY - Bearish Cypher Pattern - 156.162

Short

British Pound / Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound / Japanese Yen

bearish cypherpattern ukforexsignals sell short gbpjpy fibonacciconfluence

On the GBP.JPY 1h 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 156.162 & 156.658
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Fibonacci Confluence: 78.60% & 1.272%

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 154.057
Stop loss would be placed above X leg structure resistance

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