NZD.JPY - BULLISH CYPHER SETUP - 81.407
On the NZD.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 81.407 & 80.741
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 83.500
Stop loss would be placed below X leg structure support .
Target 1 - 82.329
Target 2 - 82.890
The price reversal zone on this pair is between 81.407 & 80.741
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 83.500
Stop loss would be placed below X leg structure support .
Target 1 - 82.329
Target 2 - 82.890
Comment:
We are seeing bullish divergence on the RSI however we should expect an impulse in either direction in the coming hours.
Comment:
A nice breakout has occurred on the 1hr TF, a potential D leg completion into Tuesday / Wednesday.
Comment:
D leg completion at 81.407