On the EUR.JPY 4hr 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 122.238 & 123.322
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 123.00
Stop loss would be placed above X leg structure resistance .
Target 1 - 120.693
Target 2 - 119.768
The price reversal zone on this pair is between 122.238 & 123.322
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 123.00
Stop loss would be placed above X leg structure resistance .
Target 1 - 120.693
Target 2 - 119.768
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A break above 121.10 should confirm direction towards the D leg.
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D leg completion.
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