USD.JPY - Short Opportunity @ 112.840
On the USD.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 112.840 & 113.042
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 112.200
Stop loss would be placed above X leg structure resistance.
Target 1 - 112.553
Target 2 - 112.375
The price reversal zone on this pair is between 112.840 & 113.042
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 112.200
Stop loss would be placed above X leg structure resistance.
Target 1 - 112.553
Target 2 - 112.375
Commento:
Daily chart setup.
