Mandeep.Singh
Short

Bearish Cypher - USD/JPY

FX:USDJPY   U.S. Dollar/Japanese Yen
66 0 3
USD/JPY             is currently in a downtrend forming lower highs and lower lows. A cypher pattern can potentially complete if price manages to reach previous support turned resistance around 109.449. At this point we will have a D leg completion and potential reversal zone. I'll be shorting the market as long as we reach overbought conditions.

Targets at 0.382 and 0.618 fib level.

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