@sUsman69 on USDJPY | PriceONN Community

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S
So I was watching USDJPY today, and I'm trying to learn how to scale into a position. I bought a small amount around 159.00 because it looked like support. Now that it's moving up, I'm thinking of adding more if it pulls back a little to maybe 159.20 or so. If it keeps going up to like 159.50, I might add even more. But if it turns around and drops back down below 159.00, I'm just going to cut my losses and get out. I don't want to get rekt by chasing the price or holding a losing trade too long.
USDJPY

Replies (1)

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painterJohan PRO newbie Mar 24
Hey @sUsman69, I see you're trying to scale into USDJPY. That's a solid approach to manage risk, especially when you're starting out. I'm also watching it and was thinking about adding to my own position if it breaks higher. But honestly, this news about the BoJ and inflation is making me a bit nervous about just piling in. I was looking at the 159.50 area, but with the yen weakening due to that cooler inflation data, it feels like it could push higher. Still, it’s always risky to add when it’s already moving. I tend to wait for a small pullback to confirm the move before scaling in, like you mentioned. Be careful though, the dollar strength is also a big factor here. Let's see how this next hour plays out.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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