USDJPY trade plan for intraday setup.

The chart represents the U.S. Dollar (USD) versus the Japanese Yen (JPY) with a 15-minute timeframe.
Current Price:
The current price is marked at 155.714, as indicated at the top and reflected on the chart.
Highlighted Entry Zone:
A green rectangle in the price range of approximately 156.100–156.400 represents the suggested Entry Zone for a potential short trade.
Trade Plan:
The projection indicates a bearish move after the price enters the green Entry Zone.
The chart suggests entering a short position in the entry zone and targeting the following levels:
Take Profit 1 (TP1): Around 155.893
Take Profit 2 (TP2): Around 155.443
Take Profit 3 (TP3): Around 154.899
Stop-Loss (SL):
The stop-loss level is marked at 156.822, just above the entry zone, ensuring a controlled risk if the trade moves against the strategy.
Support and Resistance Levels:
The chart highlights clear support and resistance zones:
Support levels: Around 154.899 (lower green rectangle).
Resistance levels: Around the entry zone and the stop-loss area.
Price Action:
The chart depicts a bullish price movement approaching the entry zone. The bearish wave is projected after rejecting the resistance.
Risk-Reward Ratio:
The setup appears to prioritize a favorable risk-reward ratio, with potential profit targets significantly outweighing the risk.
This chart reflects a technical analysis-based strategy, commonly used in forex trading to identify high-probability trade setups.