On the GBP.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 147.983 & 148.456 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 146588 Stop loss would be placed above X leg structure resistance.
Target 1 - 147.316 Target 2 - 146.903
Komen
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PLEASE NOTE: Position is still valid as long as price doesn't exceed C leg