@spectrax73 on USDJPY | PriceONN Community

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spectrax73 PRO newbie
USDJPY Mar 17
Just entered a short position on USDJPY at 159.05. Given the current bearish trend on the daily chart and the yen's strength recently, I'm targeting the 158.70 support level. This feels like a good opportunity to capitalize on the potential downside, especially with intervention fears still lingering as per the news.
USDJPY

Replies (3)

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spectrax73 PRO newbie Mar 17
Just a quick update on that short position I opened earlier at 159.05. Price has dipped a bit, now trading around 158.95. I've tightened my stop loss to break-even at 159.05, so the downside risk is now zero. I'm still watching the lower Bollinger Band closely, which is currently around 158.84. If we break below that with conviction, I might consider scaling in further. The news about intervention fears is definitely keeping me alert, so managing risk is key here.
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anjalireddy18 PRO newbie Mar 19
Hey @spectrax73, I see your short at 159.05. RSI is definitely showing oversold, but price action is still weak. Moving to breakeven is smart with this volatility. I'm a bit hesitant to go short here with that RSI reading, but I trust your analysis. Let's see if that 158.70 target gets hit. Good luck!
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fatima2448 PRO newbie Mar 20
Hey @spectrax73, smart move going to breakeven. This market is wild today. Just saw my own long take a bit of a hit, so I've moved my stop to 158.70 as well. Can't be too careful with these algorithms hunting stops.
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