On the GBP.JPY 1 Hour chart we have a potential short opportunity at the D leg completion of a Cypher Pattern
The price reversal zone on this pair is between 174.157 & 174.951 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
127.20% - 78.60% & 88.60% Fibonacci confluence at the D leg completion.
Potential targets for the Cypher Pattern placed at the 38.20% and 61.80% retracement of the C to D move. Stop loss would be placed above X leg structure resistance.