USD.JPY - Bearish Cypher Setup @ 115.282
On the USD.JPY 15min chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 115.282 & 115.50
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 114.50
Stop loss would be placed above X leg structure resistance .
Target 1 - 114.977
Target 2 - 114.784
The price reversal zone on this pair is between 115.282 & 115.50
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 114.50
Stop loss would be placed above X leg structure resistance .
Target 1 - 114.977
Target 2 - 114.784
Comment:
I have a current sell stop order in place on this pair, however please note it is not pattern based.
Order cancelled:
No trade taken on this pair.
Comment:
