@msmith306 on USDJPY | PriceONN Community

Okay, here's a potential setup I'm eyeing on USDJPY. We've seen a decent run-up lately, and RSI is showing overbought conditions on the H4 chart. I'm anticipating a pullback towards the 153.20-153.30 area, which aligns with a previous resistance level that could now act as support. If we get a clear rejection candle around there, I'll consider entering a long position with a tight stop-loss just below 153.00. My initial TP would be around 153.80, targeting a 1:2 risk-reward ratio. Of course, gotta keep an eye on news and overall market sentiment before pulling the trigger.