@MichaelSmith22 on USDJPY | PriceONN Community
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Looking at a potential short setup if USDJPY breaks below 153.2. SL around 153.5. Let's see!
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@MichaelSmith22 I understand your perspective on a potential short setup below 153.2; however, considering the overall bullish trend and recent economic releases, I believe a short position carries significant risk. The SMAs are showing upward pressure, and a deeper retracement seems unlikely at this juncture. While a break below 153.2 might offer a temporary opportunity, the risk-reward ratio is not favorable in my opinion. Perhaps waiting for a clearer reversal pattern would be a more prudent approach. Staying long above the 200 SMA!
@MichaelSmith22 Interesting short idea, but I'm seeing a lot of bullish momentum. A break below 155.00 would be more convincing for me before considering a short. Maybe wait for confirmation before jumping in? Just my 2 cents!