Tengu format ruling
Thought Ruler Archfiend

Card effect (current official text)1 Tuner + 1 or more non-Tuner monsters
If this card destroys a monster by battle and sends it to the Graveyard: Gain LP equal to that monster's original ATK in the Graveyard. During either player's turn, when a Spell/Trap Card is activated that targets exactly 1 Psychic-Type monster (and no other cards): You can pay 1000 LP; negate the activation, and if you do, destroy it.
Rulings
- The ② effect can only negate cards, not effects. It can also only negate cards which target exactly 1 Psychic (and no other cards).
- The ② effect can negate cards which target Psychics anywhere, even in either GY.
Rulings data courtesy of Format Library — formatlibrary.com. Spotted an inaccuracy? Flag it in the Tengu forum — sourced change requests get reviewed.