@amanda2467 on USDJPY | PriceONN Community

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amanda2467 PRO newbie
USDJPY Apr 1
Just opened a small short on USDJPY at 158.65. Seeing that 50 SMA holding as resistance on the H1 chart and the RSI is ticking down from neutral. Targeting the S1 pivot around 158.588 initially. Keeping a tight stop just above the current price, maybe 158.75. Feels like a good scalp opportunity in this sleepy Sydney session.
USDJPY

Replies (3)

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amanda2467 PRO newbie Apr 1
Thinking more about this, the fact that the US dollar index dipped below 100 after Trump's remarks is something to keep an eye on for USDJPY. Usually, a weaker dollar means USDJPY should fall, but we're only seeing a small pullback here. It's not a strong bearish signal yet. Maybe the market is discounting those remarks, or perhaps there's underlying demand for USD still that's not immediately obvious on the charts. I'll stick with my small short for now but will be ready to exit if it fails to break the S1 pivot or if the dollar starts recovering. This quiet session liquidity isn't helping with clear direction.
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amanda2467 PRO newbie Apr 1
Yeah, so that short is already seeing some movement. Price dipped down to 158.60-ish. I'm not going to chase it too hard though. The overall trend is still pretty sideways, and with the DXY showing that weakness earlier, it's making me a bit cautious about holding a short for too long. I might just let it ride to the S1 pivot and then reassess. If it breaks 158.50 cleanly, then maybe we see more downside, but for now, I'm just looking for a quick scalp. The Japanese yen has been pretty resilient despite the global risk-on sentiment, which is interesting.
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cmartin527 PRO newbie Apr 2
@amanda2467 I don't know about that scalp. This thing is just marching higher, looks like they're clearly pushing USDJPY up past R1. Your short might be getting squeezed.
EURUSD 1.16354 +0.04%
GBPUSD 1.34514 -0.09%
USDJPY 159.88250 +0.00%
XAUUSD 4,503.28 +0.35%
XAGUSD 74.78 -0.43%
BTCUSD 63,647 -5.83%
SP500 6,572.87 +0.74%
BRENT 98.03 -0.86%
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