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Aleksandar_Rose
Jun 10, 2016 8:42 AM

USDJPY - Bearish Cypher Short

U.S. Dollar/Japanese YenFXCM

Description

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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Comments
DigitalKM
This pattern invalidated but there is an opportunity yo go long on this pair with a bat pattern at previous support.
Aleksandar_Rose
You're correct, but unfortunately price hit stop level on that bat pattern.
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