@braveglen on USDJPY | PriceONN Community
B
Cant sleep so watching the Asian session open... USDJPY looks like it's respecting the 157.70 level for now. BOJ intervention rumors are still floating around, so I'm keeping my position size smaller than usual. If it breaks below 157.50 I might add to my short, but for now just a small scalp.
Replies
B
Thinking about it more, the smart money probably already swept the lows before this consolidation. So, I'm not expecting a huge move down unless we get some confirmation from the news. Gonna keep an eye on those Middle East tensions too, that could send the yen soaring. Its a wait and see for now...
B
Also, I'm watching the 50 SMA on H4 as potential resistance if it bounces. It's currently sitting around 158.00. If it gets there, I'll be looking for some bearish price action before adding to the short. Don't want to get caught in a dead cat bounce, you know?
H
@braveglen Interesting point about the BOJ intervention rumors. It's wise to reduce position size in such uncertain times. The 157.50 level is definitely key to watch.
M
@braveglen BOJ intervention is scary. I saw the same resistance at 158, but I'm not sure about shorting. The dollar seems strong still. Maybe wait for some more confirmation before adding to your position?
@braveglen BOJ intervention, seriously??? That's what I'm afraid of lol. I've heard horror stories about that happening. I'm def gonna keep my position size small like you said. Thanks for the heads up! Hopefully the rumors are just rumors. This is why I stick to physical gold usually... less drama. Still, gotta play around with forex a little, right?
J
@braveglen Totally agree about the BOJ rumors making things super uncertain. Smart move to keep position sizes small on USDJPY. I'm also a bit nervous about that 157.70 level holding if things turn south.