@WAzhar47 on USDJPY | PriceONN Community

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.