GBP.JPY - BULLISH CYPHER SETUP - 138.870
Updated
On the GBP.JPY 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 138.870 & 138.445
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 back into 140.200
Stop loss would be placed below X leg structure support.
Target 1 - 139.476
Target 2 - 139.847
The price reversal zone on this pair is between 138.870 & 138.445
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 back into 140.200
Stop loss would be placed below X leg structure support.
Target 1 - 139.476
Target 2 - 139.847
Note
Price quickly approaching D leg completion.Note
Note
If you entered at 138.870 your target 1 & 2 should be attained.
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