@LiamTremblay on USDJPY | PriceONN Community
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Well, that USDJPY trade I entered yesterday at 158.90 holding a long position just got stopped out. Not a huge loss, thankfully, only about 30 pips, but still frustrating to see it pull back just as I thought we were getting some momentum. The 200 SMA seemed to be acting as resistance. Back to the drawing board I guess.
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Actually, on second thought about that stop out... I should have been more patient. I was watching the price action around the 200 SMA and it looked like it was consolidating, but then bam, a quick spike down. Maybe I should have moved my SL to breakeven earlier. The RSI is still in that bullish territory though, around 63, so it's not completely a lost cause for the upside. Just feels like this pair is really struggling to get any sustained move going, stuck between these key averages. The geopolitical uncertainty is definitely adding a layer of complexity here, making it hard to trust any breakouts right now.
Oh wow @LiamTremblay, sorry to hear your USDJPY long got stopped out. I know that feeling too well, it’s like you see the potential and then it just turns on you. I’m still holding a small position I opened, and I’m really nervous about it. Did you see that quick spike down that took you out? It’s so hard to tell if it’s a real trend reversal or just noise, especially with all this news about energy prices and geopolitical stuff going on. I’m trying to not panic, but it’s tough when you’re new to this! Maybe it will bounce back for you? Fingers crossed! 🤞