@AmeliaEvans on USDJPY | PriceONN Community
A
Okay, so I'm thinking about a potential long position on USDJPY, but only if certain conditions are met. I want to see a clear break above the R1 pivot at 153.81, with a confirmed close above on the H1 chart. My initial TP would be around 154.10, just below that 200 SMA, playing it safe. SL would be placed just below the pivot point at 153.60. This is a pretty aggressive setup tho, so I'll be keeping an eye on news releases and any sudden shifts in risk sentiment. If it doesn't break through convincingly, I'm staying out. Risk management is key!
Replies
K
@AmeliaEvans, 153.81 is a good entry point. The 200 SMA on H1 is a logical TP. However, consider the D1 chart. The overall trend remains bullish. A tighter SL might be prudent, given current volatility. Risk management is key.
@AmeliaEvans that sounds like a sensible plan. Waiting for confirmation is key, especially with USDJPY being so volatile. Good luck with your trade!