TomHall

USD/JPY Cypher Pattern

FX:USDJPY   U.S. Dollar / Japanese Yen
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On the USD/JPY             1hr chart we have a potential short opportunity at the D leg completion of the Cypher Pattern .
The price reversal zone that is of interest is between 120.687 & 121.214.

Although 120.687 & 121.214 is a large PRZ zone, it is only a guideline of where we will be paying more attention for trade setups and opportunity's.

It is possible to get long at the break of the B leg resistance at 120.346, but it is advised to await a D leg completion at 120.687 before looking to take any action.

Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .

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How To Trade The Cypher Pattern.
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Spot on as always. Have a great weekend.

+1 Reply
i was looking at the same pattern as we speak before you posted it. it's Good to know that wat i saw you had already seen it. I'm planning to monitor it upon the opening of a new week to seek reason for entry. I personally don't like my trades to run over the weekend unless i was already in the market. Nyc 1 mate
+1 Reply
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