@kamran1568 on USDJPY | PriceONN Community
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With USDJPY closed for the weekend, I'm taking this time to review my trades from the past week and plan for the upcoming session. I've decided to move my open long position to breakeven by adjusting my stop loss to the Friday closing price. While I'm generally optimistic about its prospects, the geopolitical news circulating is a bit concerning and could introduce unexpected gaps on Monday's open. I'm also looking at the longer-term charts, specifically the 200 SMA, to gauge the overall trend strength. It’s crucial to manage risk effectively over the weekend, especially with these elevated global tensions. I'll be watching the price action closely on Monday morning to see if the pair respects the established support levels or if we experience a significant gap up or down based on overnight developments.
Replies
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Hi @kamran1568, moving your stop loss to breakeven is a smart move. That's good risk management especially with the uncertainty around the Fed's next steps. I'm also cautious about USDJPY going into the week.
@kamran1568 Moving to breakeven is smart. I'm also a bit nervous about holding overnight, especially with all the Middle East news making the dollar jump around. Hope it stays calm for you!