If the pair is facing resistance around current levels and market sentiment favors JPY (safe-haven appeal), a 120-pip downside target is feasible. A 30-pip stop loss also provides a healthy risk-reward ratio of 4:1, suggesting that the trade could work well if price action supports it.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.