@stephanieharris85 on USDJPY | PriceONN Community
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USDJPY is looking pretty strong! I'm seeing a bullish trend on the shorter timeframes like H1 and H4. I'm thinking it might test that R1 pivot around 153.50 soon. Gonna set a buy stop order just above the current price and see if it triggers!
Replies
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Stephanie, while I admire your enthusiasm, jumping in just above the current price might be a bit premature! That R1 pivot at 153.50 is definitely a level to watch, but consider the broader context. We're nearing overbought territory on the RSI on some of the higher timeframes. A small pullback before another leg up wouldn't surprise me at all. Maybe wait for a confirmed break above that level with solid volume before entering? A tight stop-loss is crucial in this environment, just in case it's a fakeout! Good luck!
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Hey @stephanieharris85, I see that bullish momentum too! But I'm a bit cautious with that R1 pivot. What's your SL looking like? Just curious about your risk management. Always good to learn from others! I hope it triggers for you!
@stephanieharris85 Strong trend maybe, but be careful placing buy stops right now. Could easily get swept the lows before any real move up. Just my 2 pence.