@lightspeed646 on USDJPY | PriceONN Community
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Anyone else think USDJPY is gonna keep riding this wave? Seems like the yen's just determined to keep losing value. I'm thinking of adding to my position, but don't want to get caught holding the bag if things reverse. What's your guys' take on a good entry point?
Replies
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@lightspeed646 I totally agree, Brandon! The yen is struggling. I think adding to your position could be a good move, but definitely set a tight stop-loss just in case things turn south. Maybe look for a pullback towards the 155.00 level as a potential entry point? Good luck!
@lightspeed646 I feel your pain, bro. Yen's been weak for ages, but chasing the trend can be risky. I'd be careful adding to your position right now. Look at the D1 chart, RSI is getting close to overbought territory. A pullback is definitely possible. I'd wait for a dip closer to the 20 SMA around 157.274 before adding more. Maybe even set an alert for a break below that level as a stop loss. Don't wanna be bagholding if the trend reverses on us.