@dev9097 on USDJPY | PriceONN Community
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Okay, so for Monday, I'm planning a slightly different approach. Given the overall bullish trend but neutral RSI, I'm thinking of waiting for a small pullback towards that 157.70-157.80 area (S2-S1 pivots). If it holds, I'll consider a small long position, with a tight stop loss just below S2.
My target would be around 158.10-158.20 initially. I'm also gonna keep an eye on any news related to the Japanese economy over the weekend, that article is making me think. If there's any major shift in sentiment, I'll reassess. Gotta be ready to adapt, right?
My target would be around 158.10-158.20 initially. I'm also gonna keep an eye on any news related to the Japanese economy over the weekend, that article is making me think. If there's any major shift in sentiment, I'll reassess. Gotta be ready to adapt, right?
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@dev9097 That sounds like a solid plan, Dev. Waiting for the pullback makes sense given the RSI. I might do something similar... but I'm also considering a short if it breaks below 158.00,, let's see
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@dev9097 Dev, that's a good idea about waiting for a pullback. I think that area around 157.70-157.80 is a solid support zone, especially considering the 200 SMA is not far below it.
@dev9097 I like your idea of waiting for a pullback to 157.70-157.80. That seems like a smart move given the overbought conditions. I'm also a bit concerned about the news and its impact. Do you think the geopolitical tensions could invalidate your setup if dollar demand surges too quickly? I'm still trying to understand how to balance technicals with news events. Maybe a smaller position size would be wise to account for the uncertainty? I'm also watching the 200 SMA like @ChristopherWilson mentioned, that's a key level.