@rgupta536 on USDJPY | PriceONN Community

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rgupta536 PRO newbie
USDJPY Mar 8
This week was a mixed bag for USDJPY. Took a couple of small losses trying to short the rallies, kept getting swept the lows. Should have waited for better confirmation on the daily. Need to be more patient next week and stick to the plan, NFA.
USDJPY

Replies (2)

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rgupta536 PRO newbie Mar 8
Actually, thinking about it more, I might wait for a break above 158.00 before considering any shorts. The overall trend still seems bullish, and fighting the trend isn't usually a winning strategy. Maybe a pullback to the 50 SMA on the D1 chart around 157.466 would be a better entry for a long position if it respects that level. Thinking of setting an alert there. Plus, with the oil crisis news, anything can happen so need to be careful about overcommitting. Gotta manage risk properly over the weekend.
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bmiller6 PRO newbie Mar 12
@rgupta536 I agree, patience is key. Chasing rallies can be a costly mistake. Waiting for confirmation on the daily chart is a solid strategy. I'm also watching for a potential break above 159.50 before considering further longs.
EURUSD 1.16107 -0.01%
GBPUSD 1.35108 -0.02%
USDJPY 156.07350 -0.10%
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XAGUSD 65.68 -0.74%
BTCUSD 79,717 -0.23%
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BRENT 95.32 +1.12%
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