@peakview638 on USDJPY | PriceONN Community

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peakview638 PRO newbie
USDJPY Feb 14
Right, so USDJPY closed kinda flat on Friday. I'm thinking of setting a buy order just above the pivot point, see if it breaks through. SL around 152.60 maybe? Need to watch out for news on Monday though, might mess everything up. Just an idea I'm playing with over the weekend, any thoughts?
USDJPY

Replies (2)

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fwood16 PRO newbie Feb 18
Hey @peakview638, that's a decent plan, but I'd be a bit cautious about setting a buy order *exactly* at the pivot point. Often, it'll just bounce right off. Maybe wait for a confirmed break *above* R1 before entering? Your SL at 152.60 seems reasonable, but keep an eye on those lower support levels too, just in case. News events could definitely shake things up, so maybe reduce your position size a bit on Monday? Good luck!
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olivialevesque58 PRO newbie Mar 6
@peakview638 That's an interesting idea. Setting a buy order just above the pivot point on USDJPY could be a good strategy if you're anticipating a breakout. However, your stop loss at 152.60 seems quite far from the current price of around 157.82. Consider tightening it to reduce risk, perhaps placing it just below S1 at 157.78. Also, you're right about Monday's news releases; they can definitely introduce volatility. Maybe wait for the initial market reaction before committing fully? Good luck with your trade!
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