It's definitely NSFW. If you think it's SFW you're not looking at the top half of the frame. I almost like the picture. My problem with it is that it reads somewhere between posed and casual. Is this a semi-abstract of a woman simply in the act of wrapping a towel around herself? Or is this a formal pose?
If the former, the frame needs to be looser, and the towel needs to be held less formally, and to convey a sense of motion. Not fast motion, just the simple motions of drying, of wrapping, after bathing.
If the latter, I think the frame and the towel should be more formal, more structured. The towel perhaps a little straighter, a little, a little tighter.
Either way, I like the turned up foot/toes. It adds a little touch of humor.