USD.JPY - Bearish Cypher Setup @ 115.282

FX:USDJPY   U.S. Dollar / Japanese Yen
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
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.
Thanks man...Do you think this will further slide to 112.00 in the next few days?
still waiting for D leg confirmation?
+1 Reply
@cals, Hi,
I'm not trading this setup as a pattern, but i do currently have a pending order still in place.
+1 Reply
good luck
+1 Reply
TomHall mahmoud0711
@mahmoud0711, Thank you.
+1 Reply
TomHall drisssalhy
@drisssalhy, My pleasure.
great work man
+1 Reply
TomHall adamahmed
@adamahmed, Thanks very much :-)
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