@refilwemoloi12 on USDJPY | PriceONN Community
Looking at the weekly chart, USDJPY has been on a tear! I mean, seriously, it's like it doesn't even care about resistance levels anymore. I'm a bit worried about a major correction coming eventually, but trying to short this thing right now feels like catching a falling knife. The 200 SMA is still way down at 158.132, so there's plenty of room for it to fall if the sentiment shifts, but until then, I'm staying cautious. I'll be watching for a clear breaker block setup on the lower timeframes before considering any short positions. News from the Middle East is still a major factor, so expecting volatility next week.
Replies
Hey @refilwemoloi12, I totally get what you mean about USDJPY being a beast on the weekly. Trying to short it feels like trying to stop a runaway train, doesn't it? I'm a beginner, so I'm mostly just watching and trying to learn from these moves. That 200 SMA point is a good one though, I'll have to keep an eye on that for potential reversals.