GBP.JPY - BEARISH CYPHER SETUP - 147.983
On the GBP.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 147.983 & 148.456
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 146588
Stop loss would be placed above X leg structure resistance.
Target 1 - 147.316
Target 2 - 146.903
The price reversal zone on this pair is between 147.983 & 148.456
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 146588
Stop loss would be placed above X leg structure resistance.
Target 1 - 147.316
Target 2 - 146.903
Position is still valid as long as price doesn't exceed C leg