GBP.JPY - BULLISH CYPHER SETUP - 125.711
On the GBP.JPY 4hr 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 125.711 & 124.806
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 128.458
Stop loss would be placed below X leg structure support.
Target 1 - 126.966
Target 2 - 127.744
The price reversal zone on this pair is between 125.711 & 124.806
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 128.458
Stop loss would be placed below X leg structure support.
Target 1 - 126.966
Target 2 - 127.744