@cOcampo27 on USDJPY | PriceONN Community

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C
Has anyone else noticed the potential for a pullback on USDJPY? I'm thinking of setting a buy limit order around 152.90, with a target of 153.30. I'm still practicing my risk management, so I'll probably use a small position size. I'm trying to use the 20 EMA as a dynamic support level. Thoughts?
USDJPY

Replies (3)

M
MScott65 PRO newbie Nov 30
@cOcampo27 That sounds like a good plan! I'm also thinking USDJPY might go up a bit! Good luck!
J
jmoore733 PRO newbie Nov 30
@cOcampo27, I agree that the 20 EMA is a good reference for dynamic support. However, for USDJPY, consider also looking at the 50 SMA on the H1 chart for confluence. Using multiple indicators can help validate your entry point around 152.90. Also, remember to adjust your stop-loss based on the ATR to account for volatility.
M
mthomas457 PRO newbie Nov 30
Hi @cOcampo27, I think your analysis is a good starting point! 👍 However, be cautious relying solely on the 20 EMA. Consider looking at the broader market context and potential resistance levels around 153.50. Also, make sure your stop-loss is appropriately placed to avoid getting stopped out prematurely. Good luck!
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