@WAzhar47 on USDJPY | PriceONN Community

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WAzhar47
I have just initiated a short position on USDJPY at 157.70. My analysis indicates a potential short-term reversal based on divergence observed on the M15 chart. The RSI is showing overbought conditions, and I anticipate a pullback towards the 157.40 level. My stop loss is placed at 157.85 to limit potential losses. Target profit is set at 157.30, aligning with a previous support level. This trade is based on a 1:2.6 risk-reward ratio. I will monitor the price action closely and adjust the stop loss as needed. Let's see how this plays out.
USDJPY

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EURUSD 1.16364 +0.05%
GBPUSD 1.34490 -0.10%
USDJPY 159.89550 +0.01%
XAUUSD 4,495.94 +0.18%
XAGUSD 74.25 -1.13%
BTCUSD 64,282 -4.89%
SP500 6,572.87 +0.74%
BRENT 97.91 -0.99%
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