@wlewis36 on USDJPY | PriceONN Community
Watching this USDJPY action closely. It's hovering right around that 159.8 level, almost hitting the R2 pivot. I've got a decent sized long position open from around 159.6, and I'm just letting it ride for now. Trying not to touch the SL, want to see if this bullish momentum from the oil news carries us higher.
Replies
C
@wlewis36 Nice trade on USDJPY! I also saw it hanging around that 159.8 zone, looked like it was consolidating before the next leg up.
@wlewis36 Stick with that long, mate! The oil surge is exactly what USDJPY needs to break higher, especially with that R2 pivot in sight. Don't let the bears scare you.
@wlewis36 It's good you're watching that 159.8 level, but I'm a bit hesitant to be long right now, especially with the market this quiet. The 200 SMA is still above the price around 159.18, and the overall trend on the D1 looks bearish despite the oil news. I'd be cautious holding that long without a tighter SL.
K
@wlewis36 I hear you on watching that 159.8 level. It's been a stubborn resistance, but the momentum could push it through.