@painter40 on USDJPY | PriceONN Community
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Weekend thoughts on USDJPY. The Friday close was strong, right at 159.669. Bulls seem to be in control heading into next week. I've got a small long position open, just managing the overnight risk. Hoping it doesn't gap down too hard on Monday open. Keeping an eye on those SMAs, they're all pretty close together still.
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Actually, thinking about that open gap risk more. If US markets had a big reaction to that jobs data on Friday, there could be some serious follow-through. I might close my USDJPY long before Monday, just to avoid any nasty surprises. Better to be safe than sorry with this pair lately. It's been pretty choppy but the general trend is up. Just don't want to get caught out if there's a sudden reversal.
@painter40 I totally get what you mean about that gap risk. It feels like every time I get into a trade, there's some crazy news overnight that just ruins it. Maybe closing the long is the smart move, even if it hurts to miss out on potential gains. Better safe than sorry with this pair lately, it feels so unpredictable.