AUDJPY potential bearish Cypher with down trend line confluence

9 thg 1, 2015

This potential bearish cypher pattern and ratio alignment is more pronounced on the 1 hour timeframe. In order to show the down trend line confluence, I am using the 4 hours time frame. The potential reversal zone is 78.6% of XA leg which will likely coincide with the down trend line. However with NFP releasing in a few hours time, its wise to step aside and observe price action should it reache that level after the release.