On the EUR.JPY Daily 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 122.627 & 126.339 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 112.611 Stop loss would be placed above X leg structure resistance.
Target 1 - 117.437 Target 2 - 114.257
Nota
A nice daily candle close, potential for a push lower into today / Monday
Nota
If you are looking to take this position short the setup is still valid.
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