USDJPY - Bullish Cypher - Fib confluence in PRZ

FX:USDJPY   U.S. Dollar / Japanese Yen
591 0 7
A bullish cypher pattern is setting up and current price action is indicating that there is a good chance it will be completed. The previous support around 119 has now become resistance and price is likely to go down. We might see a little more struggle around the B point of this Cypher pattern (green dotted line) but I do not expect this to be a showstopper.

The potential reversal zone (PRZ) is made up of previous structure and quite some Fib confluence (see chart).

So summarized, first a downward move till around 117, after that we might see price rallying again.
New !!!! Crypto High Tops available now on
Do also check our brand-spanking-new Crypto Sports Edition
Check our live crypto trading channel on Twitch :
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out