As USDJPY is in a downtrend, we're considering trades on the downside.
Recently, it generated significant liquidity from the 141.000 level and experienced a pullback. We're considering a short position on USDJPY at 143.500, contingent upon confirmation and market behavior.
The stop loss for this trade will be around 35 to 40 pips, considering the analysis conducted on the one-hour timeframe. Take Profit1 (TP) is set at 142.335, and TP2 (TP) at 141.844.
Recently, it generated significant liquidity from the 141.000 level and experienced a pullback. We're considering a short position on USDJPY at 143.500, contingent upon confirmation and market behavior.
The stop loss for this trade will be around 35 to 40 pips, considering the analysis conducted on the one-hour timeframe. Take Profit1 (TP) is set at 142.335, and TP2 (TP) at 141.844.