USD/JPY Short Opportunity: Anticipating Rejection from Key Resistance within Sideways Structure
USD/JPYShortPosition1w ago22 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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