On the GBP.JPY 1hr 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 134.329 & 135.171
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 131.553
Stop loss would be placed above X leg structure resistance.
Target 1 - 133.030
Target 2 - 132.250
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The price reversal zone on this pair is between 134.329 & 135.171
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 131.553
Stop loss would be placed above X leg structure resistance.
Target 1 - 133.030
Target 2 - 132.250
Website: www.UKForexSignals. com
Instagram: www.Instagram.com/UK_Forex_Signals
Instagram: www.Instagram.com/Tom_Hall_Official
Twitter: www.Twitter.com/Tom_H_Official