Potential long setup on USDJPY: Entry around 154.75, targeting 155.15 (R2 pivot) for TP. SL could be placed just below the S1 pivot at 154.65. This provides a reasonable risk-reward ratio, assuming the bullish trend continues. Monitor RSI for overbought conditions as it approaches TP.
@ChinweIbrahim Your long setup looks reasonable, but I'd be wary of the proximity of your TP to the R2 pivot. A more conservative target might be prudent, especially with the risk of a reversal at that level. Always wise to consider the broader risk environment before committing to a position. A tighter SL might also be warranted given the news.
