@WilliamS48 on USDJPY | PriceONN Community
W
Anyone else looking at USDJPY for a potential long? Seems like it's consolidating around 153.30. Thinking of setting a buy order around that level with a tight stop loss. What are your thoughts?
Replies
H
@WilliamS48, I agree that 153.30 is an interesting level to watch for a potential long entry. However, ensure your stop loss is placed strategically, considering the recent volatility. A tighter stop might get triggered prematurely. I would personally wait for a confirmed breakout above 153.50 before initiating a long position to avoid false signals.
@WilliamS48, 153.30 seems like a reasonable entry point for a long position on USDJPY. Just make sure your stop loss is tight enough to protect your capital!
R
@WilliamS48 153.30 is a bit high for my taste considering the current ranging. I'd wait for a clearer signal before jumping in long. Could be a fakeout. 🤷♀️
E
Hi @WilliamS48, I think 153.30 is quite a bit away from the current price, given the momentum. A pullback is possible, but the news might keep it elevated. A tighter entry might be safer, but it depends on your risk tolerance. 👍 Good luck with your trade!