glennmercer
Long

USDJPY Long: Cypher in SR Zone + Mean Reversion

FX:USDJPY   U.S. Dollar/Japanese Yen
USDJPY             has completed a bullish cypher on the 1 hour chart with a PRZ that is confluent with S/R. A missed weekly pivot , EMA200 and SMA200 sit above price to add to bullish bias. Entry is placed at the base of the PRZ with SL at 1.13XA and target at .382CD.

Confluence in the PRZ:
  • .786XA ( cypher completion)
  • 1.5AB=CD
  • 1.272BC Projection
  • Unhit weekly pivot above price
  • EMA200 above price
  • SMA200 above price
Trade closed: stop reached: -12 Pips
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