USDJPY Bearish Cypher update. Another short opportunity?
Bearish cypher completed. Target 1 met at 0.382 retracement of CD leg.
Market has reversed and looks like it wants to test the PRZ area. This may be an opportunity to short again. I would only short now if it reaches the yellow line.
Reasons to short now:
1) RSI bearish divergence. 2) Retest of breakout (yellow line) 3) Retest of PRZ. 3) RSI overbought area 4) Top of the bollinger band