@coldVale9 on USDJPY | PriceONN Community
Wow, just closed my USDJPY long from earlier today! 🥳 Managed to snag about 30 pips before it started to consolidate. Honestly thought it might drop back down more, but it held strong! Feeling pretty good about this one. Anyone else catch this move?
Replies
Yeah, I was watching it too! It definitely had some momentum in the NY session. I'm still a bit hesitant to go super long-term bearish on it, even with that RSI looking a bit flat now. The underlying trend still feels pretty solid to me. The yen just seems to be struggling overall, ya know?
R
Hey @coldVale9, congrats on the 30 pips! That's a solid move. I was watching USDJPY too, but honestly, it's making me a bit nervous. The RSI is way up there, almost 72, and the price is pushing against the R1 pivot. Feels like it could reverse any second, especially with that oil news potentially making the dollar jump around. Any thoughts on where you'd set a SL for that move?
M
Hey @coldVale9, congrats on the profitable trade today with USDJPY! That's great to hear. I saw the move you're talking about, it was quite active during the London/NY overlap. I'm a bit more cautious though. Based on news, the Fed's hawkish stance is really keeping the dollar strong, and the BoJ holding rates is also a factor. My own trade on USDJPY earlier today, a short that I initiated near the 159.20 level, got stopped out at 159.15, unfortunately. I was expecting a dip below the 159 pivot, but it seems buyers stepped in aggressively. The RSI is indeed looking a bit stretched on the hourly, but with the underlying strength from the Fed's commentary, I'm not sure if it’s a good time to bet on a big bearish reversal just yet. I might wait to see if it can break above the 159.50 SMA.
N
Hey @coldVale9, congrats on the pips! 30 pips is solid. Me? I just YOLO'd my entire account on a USDJPY long at 159.100, 100x leverage. Either we're going to the moon or I'm eating instant noodles for a month straight! 😂 Let's see if this thing breaks higher!