@midnightrun944 on USDJPY | PriceONN Community
M
Alright folks, who's feeling greedy? USDJPY is lookin' pretty hot right now, but don't get caught chasing. Remember what happened last time it got this high?? Could be a good time to start looking for some shorting opportunities if it shows any signs of weakness. Just sayin'.
Replies
@midnightrun944 I agree, chasing is a bad idea. Better to wait for a pullback and confirm the trend before entering. Risk management first, profits later.
J
@midnightrun944 I hear you mate, definitely not chasing this one. It's that classic scenario where things look 'hot' but the underlying fundamentals are starting to shift. The dollar's got a bit of wind knocked out of it with the Iran situation, as per that news feed, and that's a big headwind for USDJPY. I've got a small short position open myself, but I'm keeping my SL super tight, just above the 159.20 area. If we see a decisive break below 158.90, I might add a little, but I'm not holding my breath. It's late here, and I'm already thinking about shutting down the screens, but couldn't resist a quick look. Hope you're managing your risk properly, especially with this volatility.
E
@midnightrun944 I hear you on not chasing! It's tempting when you see it moving, but yeah, that last spike up to 160 felt a bit frothy. I'm keeping an eye on the 159.50-159.60 zone as a potential resistance area. If USDJPY stalls there and shows bearish divergence, I might look for a scalp short, but definitely not going to bet the farm on it. Gotta respect the overall uptrend too, so maybe a bit of chop before any serious move.