Today I tried to sell USDJPY with a stop-loss at 148.04 and a take-profit at 147.56. USDJPY on the M15 timeframe. From a candlestick pattern perspective, the sharp decline formed a larger bearish engulfing formation, where the bearish candle completely engulfs the previous bullish candle. This pattern often signals an early trend reversal or, at the very least, a deep correction. After the decline, the price moved sideways within a relatively narrow range, indicating a consolidation phase following an extreme decline. This condition often occurs when the market is searching for a new direction after a major move.