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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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.
www.UKForexSignals.com