USDJPY - Bullish Cypher Long

U.S. Dollar/Japanese YenFXCM

Description

⋅ Jul 1, 2016 12:02 PM

+++ Don't forget to LIKE & Follow+++I have my eyes on a potential Bullish Cypher Formation here on 1H, USDJPY.
The Cypher Formation is presenting nice counter trend opportunity - stops beyond X leg, Targets are conventional 0.382/0.618.

Entry @ 101.82
Stop @ 101.12
Initial Target 1 @ 102.42
Initial Target 2 @ 102.79

Good Luck!

-Alex
Professional Currency Trader & Owner of beaprofitabletrader.com

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Comments

NareFx

⋅ Jul 5, 2016 10:09 AM

Hey Alex, Is this pattern still active since it passed the Entry @ 101.82??

Aleksandar_Rose

⋅ Jul 5, 2016 11:42 AM

Yes, price can reverse anywhere from entry level to X leg.