@mCarter3 on USDJPY | PriceONN Community

Adding to my earlier point about position sizing for USDJPY: I'm particularly cautious because the price is hovering right around the R1 pivot at 159.517, but the RSI is already at 62.6. This suggests some bullish momentum, but it's not yet overbought, so a further push is possible. However, given the news from about intervention fears and the approaching central bank meetings, any move higher could be met with swift action from Japanese authorities. Therefore, even if we break 159.60, I'll keep my size small and focus on tighter stop-losses just below the break-out level, perhaps at 159.40, to manage risk effectively. It's better to miss out on a larger chunk of a move than to get caught in a sudden reversal.

@mCarter3 I hear you on the caution. The RSI is definitely a bit stretched even at these levels, and waiting for that confirmed breakout above 159.50 makes perfect sense for USDJPY.