On the AUD.JPY 1hr 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 84.924 & 84.549
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 back into 86.000
Stop loss would be placed below X leg structure support .
Target 1 - 85.441
Target 2 - 85.769
The price reversal zone on this pair is between 84.924 & 84.549
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 back into 86.000
Stop loss would be placed below X leg structure support .
Target 1 - 85.441
Target 2 - 85.769
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A break below 85.118 will confirm the next impulse.
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Price now in consolidation, another push higher is expected into next week.