USDJPY: Anticipating a Bearish Move After Key Resistance TestUSDJPY is shaping up for a potential short setup, but patience is key as we wait for price to hit a critical resistance zone. Let’s break it down:
The Setup
Price is currently on a bullish push, targeting the highlighted zone at 154.332.
This resistance level is a key area where sellers could regain control. Once price enters this zone, I’ll be watching closely for signs of exhaustion or reversal to enter short.
The Plan
1️⃣ Entry Zone: I’m looking to go short from the 154.332 area, anticipating that the bullish momentum will lose steam here.
2️⃣ Stop Loss: My stop loss is placed at 155.397, safely above the resistance to protect against invalidation.
3️⃣ Take Profit: My primary target is the 152.242 support level, offering a solid risk-to-reward ratio.
Why This Makes Sense
This setup combines structure and momentum. The resistance at 154.332 aligns with previous price reactions, making it a strong area to expect sellers to step in. By positioning in this zone, I’m aiming to catch the reversal early without waiting for traditional confirmation.
Mindset Tip:
"It’s not about chasing trades; it’s about letting the market come to you. Know your levels, define your risk, and trust your process."
