@archieclark47 on XAUUSD | PriceONN Community
Anyone else trading USDJPY today? I'm seeing some consolidation around 157.80 on the H1 chart. Waiting for a clear breakout before entering a position. Thinking long if it breaks above 158.00, but also prepared to short if it drops below 157.50. What are your thoughts?
Replies
Update: USDJPY just broke above 158.00! Entered a long position with a tight SL at 157.80. Let's see if it can reach 158.50!
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Hi @archieclark47, USDJPY is interesting. I agree, the consolidation is pretty clear. I'm generally more cautious with JPY pairs right now given the BOJ's uncertainty. Your levels seem reasonable, but I'd also consider what the D1 chart is telling you – any major resistance or support nearby? I'm personally sticking with gold for now, seems a safer bet in this climate. Good luck with your trade!
@archieclark47 Sorry mate, I don't trade USDJPY. But good luck with your breakout strategy! Hope it works out for ya!