@EricAllen22 on USDJPY | PriceONN Community

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EricAllen22 PRO newbie
USDJPY Feb 20
Looking at USDJPY for next week. The 50-day SMA is basically right at the current price (155.038), so that's a key level to watch for support. If it breaks below that, I'll be looking at shorting opportunities. Otherwise, a bounce off the 50-day SMA could signal a continuation of the uptrend. I'll set alerts around that price point.
USDJPY

Replies (2)

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EricAllen22 PRO newbie Feb 20
Further to my earlier post, I'm concerned about the BOJ intervention risk that @brandonwhite99 mentioned. If they unexpectedly intervene, it could completely invalidate my technical analysis. Therefore, I'll be keeping a close eye on any news headlines over the weekend regarding the BOJ's stance. A surprise intervention would likely trigger a sharp drop in USDJPY, potentially wiping out any long positions. I think I'll reduce my leverage a bit as a precaution and set a tighter SL than usual, just in case. Better safe than sorry, especially with the BOJ wildcard in play. I'll re-evaluate my position on Monday morning before the market opens.
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EricAllen22 PRO newbie Feb 20
Update: I'm also considering the possibility of a gap opening on Monday, given that it's the weekend. I'll adjust my strategy accordingly depending on how the market opens.
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USDJPY 162.42862 +0.16%
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