Get started
glennmercer

USDJPY Long: Cypher in SR Zone + Mean Reversion

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
glennmercer Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY Cypher glennmercer gmercerfx confluence PRZ Pivot Points unhitpivot missedpivots Weekly Pivots Exponential Moving Average (EMA) sma200 meanreversion S/R
3
0
usdjpy cypherpattern glennmercer gmercerfx confluence prz pivotpoints unhitpivot missedpivots weeklypivots ema sma200 meanreversion s_r
USDJPY has completed a bullish cypher on the 1 hour chart with a PRZ that is confluent with S/R. A missed weekly pivot, EMA200 and SMA200 sit above price to add to bullish bias. Entry is placed at the base of the PRZ with SL at 1.13XA and target at .382CD.

Confluence in the PRZ:
  • .786XA (cypher completion)
  • 1.5AB=CD
  • 1.272BC Projection
  • Unhit weekly pivot above price
  • EMA200 above price
  • SMA200 above price
Trade closed: stop reached:
-12 Pips

Related Ideas

glennmercer
CADJPY Short: Bearish Cypher + Shark Trend Continuation Trade
glennmercer
Short USDJPY: Bearish Bat + H&S + S/R + Missed Pivot
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.