@amina4006 on USDJPY | PriceONN Community
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Okay, hear me out... I'm calling a short on USDJPY soon. I think we're gonna see a dip towards 157.50 at least. The Yen is gaining ground with all the tensions in the Middle East, and that's pushing USDJPY down,,, plus I'm seeing a potential inducement above 158.10. The whales might be trying to trap some buyers before they tank the price. SL around 158.30 for me. Let's see what happens...
Replies
@amina4006 I hear ya on the short idea. I'm just not sure I'm brave enough to go against the trend right now. Middle East tensions are scary, for sure, but USDJPY has been on such a tear lately. I'm still learning about all these 'inducement' and 'whale' things... sounds kinda complicated lol. Maybe I'll just stick to my long positions for now and see what happens. Good luck with your short though! Hope it works out for ya!
@amina4006 I see where you're coming from with the short idea. The Middle East tensions are definitely a wildcard, and that inducement you mentioned is interesting. However, I'm a little hesitant to fight this strong uptrend. USDJPY has shown incredible resilience, and the BOJ's reluctance to tighten monetary policy is still weighing on the Yen. Plus, with US inflation data on the horizon, there's a chance we see further USD strength. I'd want to see a clear break below 158.50 before considering a short position. Maybe a small position size to test the waters?
J
@amina4006 I see what you're saying abotu the short idea. Middle East tensions could defintiely cause a pullback, but I'm hesitant to go against the uptrend too. Plus, the RSI is still pretty high on the D1. Maybe wait for a clearer signal before shorting? Just my 2 cents