@archerChristopher on USDJPY | PriceONN Community
A
Potential short setup forming on USDJPY. Price is currently hovering around 153.10, just below the 20-period SMA (153.396). RSI is below 50, indicating bearish momentum. I'm looking for a confirmed break below the S1 pivot at 153.043 to trigger a short entry. Initial target would be the S2 pivot around 152.95. A tight stop-loss order should be placed just above the 20 SMA to limit potential losses. However, be mindful of potential BOJ intervention risks; manage your position size accordingly. This is just an idea, not financial advice; trade at your own risk.