Alex_BPTrader
Short

USDJPY - Bearish Cypher

FX:USDJPY   U.S. Dollar/Japanese Yen
I have several trades on my radar today . I'm gonna present to you one of my favorites - Cypher Formation.
This week USDJPY             is friendly with me giving us another Cypher - we got 2 winning cypher , I hope we will get another one.
Look left and you will see nice bearish trend - so I'm only looking for hopping into bearish trend . While I'm waiting price formed a potential bearish cypher - I got my entry reason.
Once I got filled my 1st target will be conventional and for the 2nd target I will be shooting for retest of NSL because of that trending action.
Good Luck!

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-Alex
Professional Currency Trader & Mentor
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Michael_KM PRO
5 months ago
This pattern invalidated but there is an opportunity yo go long on this pair with a bat pattern at previous support.
Reply
Alex_BPTrader Michael_KM
5 months ago
You're correct, but unfortunately price hit stop level on that bat pattern.
Reply
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