@owright459 on USDJPY | PriceONN Community

@owright459 I think your plan for USDJPY is decent, but be careful with placing your stop loss so close to your entry. 50 pips isn't a lot of breathing room, especially with the current volatility. Maybe widen it a bit to avoid getting stopped out prematurely. Good luck!

@owright459, I feel your pain with USDJPY being range-bound! Your idea about shorting below the lower Bollinger Band is decent, but 152.50 is kinda close to S1 pivot at 152.634. Maybe wait for a clearer break below that before pulling the trigger? 153.00 SL is probably a good call, though. Personally, I'm a bit cautious with the RSI still not oversold, so I'd want more confirmation before shorting. Could be a false breakout otherwise, and nobody wants to get faked out!

@owright459 Oscar, a short position below the lower Bollinger Band is a reasonable idea, but be mindful of the proximity to S2 at 152.655. A tight SL at 153.00 is sensible, given the current volatility. However, consider the risk-reward ratio carefully; a potential bounce off S2 could trigger your SL. Also, assess the overall market sentiment before committing, as risk aversion could strengthen the JPY. Perhaps wait for a confirmed break below S2 before entering.

@owright459 I think your idea about shorting USDJPY below 152.50 is reasonable, but consider the overall trend. It's been mostly bullish, so going against the trend can be risky. Your SL at 153.00 is tight, which is good for risk management, but it might get triggered by just a small bounce. Maybe widen it a bit, or wait for more confirmation before entering. Also, look at the lower pivot point around 152.547, it can be a good support. Just my 2 cents! Good luck with your trade.