JoMarshall
Short

Potential Bearish Cypher on USDJPY

FX:USDJPY   U.S. Dollar/Japanese Yen
I already have a long position on this pair but i have already booked 54 pips profit on first target and my stops have been moved to break even. So assuming my second target gets hit at around 123.20's then i will be watching and waiting for this cypher pattern to complete at (123.40's) which is just 20 pips above my second target from the bullish gartley i posted yesterday. Note that we do have a bit of structure where the cypher pattern will complete and the fact that this pair is showing bearish signs following the break of a rising trend line support on a higher time frame, provides us with a good technical reason to go short and that's of course assuming we get there (123.40)

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