Today we are looking at EUR/JPY on a 4h chart with a potential bullish cypher pattern, this looks very promising and it has an amazing risk:reward.
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
As you can see from previous price movement our pair has been trading within a confined area, I'll be expecting a spike below our D point to hit support, completing our pattern then a sharp move to the upside!
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
As you can see from previous price movement our pair has been trading within a confined area, I'll be expecting a spike below our D point to hit support, completing our pattern then a sharp move to the upside!
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