2018May22 GBPJPY M15 Bearish Cypher

There is a bearish cypher for GBPJPY. Price was rejected at the 78.6 Fibonacci retracement of leg XC. Price entry is guided by a close of a red doji right after a big green candle. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement of leg CD. The stop loss has the same number of pips as TP1 by default.

Trade Setup: Bearish Cypher
Price Entry 149.549
SL 149.737 | SL pips 18.8
TP1 149.361 | TP1 pips 18.8
TP2 149.134 | TP2 pips 41.5
RRR1 1.00 | RRR2 2.21
Status/Remarks TP1 & TP2 hit! :)