Euro / Japanese YenShort
EUR.JPY - BEARISH CYPHER SETUP - 122.702
Updated
On the EUR.JPY Daily chart we have a potential short opportunity's at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 122.702 & 126.402
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 112.415
Stop loss would be placed above X leg structure resistance.
Target 1 - 117.476
Target 2 - 114.460
The price reversal zone on this pair is between 122.702 & 126.402
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 112.415
Stop loss would be placed above X leg structure resistance.
Target 1 - 117.476
Target 2 - 114.460
Note
Although this setup is 2 months old the setup is still valid and an opportunity for next week.
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