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
Kommentar
⋅
I have a current sell stop order in place on this pair, however please note it is not pattern based.