"She is probably suited over a little bit further and I definitely don't think she is quite as good in Melbourne.
"Even with her win in the Toorak last year she was on the wrong leg."
Ryan said Sepoy, winner of the Blue Diamond and Golden Slipper Stakes double in the autumn, hadn't missed a beat this campaign and he impressed in fast time, winning a barrier trial at Cranbourne last Monday.
The winner of seven of his eight starts, the Peter Snowden-trained colt is unbeaten in two runs this campaign against 3-year-olds in the listed Vain Stakes (1100m) at Caulfield and the group two Danehill Stakes (1200m) at Flemington.
"He's got those runs under his belt and he ticks all the boxes," Ryan said.
"He has an edge over the distance and in fitness, and he will be more popular with punters because he is fresh in their minds, whereas More Joyous hasn't been seen since favourite in Doncaster Mile [when 11th]."
Ryan predicted that last-start winner of Sydney's The Shorts, Love Conquers All, may be the third pick in the Manikato.
Meanwhile, unbeaten world champion Black Caviar has opened $1.50 for a showdown with Sepoy in the Patinack Farm Classic (1200m) at Flemington on November 5, but Ryan says once raceday comes she will be much shorter.
Sepoy is at $4.40 with consistent performer Beaded the next best at $12.
"It is a bit of a token price for Black Caviar but we don't want to leave ourselves too open if she doesn't run," Ryan said.
"We've got to try to attract some support and obviously if she runs she will be $1.10 or $1.20."
- AAP