USD/JPY Short Opportunity: Anticipating Rejection from Key Resistance within Sideways Structure

USD/JPYShortPosition1w ago21 views

Trade Setup

Entry Price

150.1000

Stop Loss

151.0000

Take Profit

148.2000

Risk : Reward

1 : 2.11

RiskReward

Market Structure and Technical Rationale


The USD/JPY pair is currently exhibiting a sideways trend, trading at 149.89, with a modest 0.26% gain over the last 24 hours. The daily range has been confined between 149.3 and 150.48. My technical analysis indicates that the resistance level at 150.48, which marked the day's high, remains a critical area. Given the current consolidation, I am looking for a rejection from this upper boundary of the range.
My short entry is set at 150.1, strategically placed just below the established 150.48 resistance. This

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