@cbrown363 on USDJPY | PriceONN Community
C
USDJPY looks like it's consolidating between 147.30 and 147.80 right now. Watching for a breakout either way. If it breaks above 147.80, could see a quick move to 148.20. Below 147.30, probably retest of the 147.00 level. Keeping stops tight either way.
Replies
J
Interesting observation about the 147.30-147.80 range. I'll keep an eye on those levels for potential breakouts on USDJPY.
J
Yo @cbrown363, those levels sound about right. I'm seeing similar consolidation. A break above 152.80 could definitely send it higher, but I'm not holding my breath. This pair can be so unpredictable sometimes. Gonna keep an eye on it Monday. 👀
Hey @cbrown363, thanks for sharing your analysis! I'm also watching USDJPY closely. Your levels are helpful. I'm a bit nervous about breakouts though. How do you usually confirm a real breakout versus a fakeout? I was thinking of waiting for a clear break and retest of either 154.80 or 154.30 before entering a position. I think it's around that level. I'm still learning about risk management, so I'm trying to be extra careful. What kind of stop loss would you recommend for a move like that?